Koubei Valuation, Funding & Investors

Koubei is valued at $8B as of January 2017.

Last Koubei valuation

$8B

Undisclosed stage · Jan 2017

Last Koubei funding round

$1.1B

Undisclosed stage · Jan 2017

Cumulative funding Koubei raised

$1.1B

across 1 funding round

Key investors in Koubei

  • CDH Investments
  • Silver Lake
  • YF Capital
  • Primavera Capital Group

Koubei Overview

About Koubei

Koubei is a Hangzhou-based local-services platform within Alibaba Group that helps Chinese consumers discover, book and pay for in-store dining, entertainment and other lifestyle services. Through the Koubei app and Alipay, users find restaurants and merchants, read reviews, redeem offers and order ahead, while merchants use its tools for marketing, membership and digital store operations. The platform reuses the Koubei.com brand of a lifestyle review site founded in 2004 by Li Zhiguo that Alibaba later absorbed. Koubei was relaunched in June 2015 as a 50-50 joint venture of Alibaba and Ant Financial, each contributing RMB 3 billion, with an initial focus on food and beverage merchants. In January 2017 it raised $1.1 billion from Silver Lake, CDH Investments, Yunfeng Capital and Primavera Capital, its first outside capital. In 2018 Alibaba placed Koubei alongside the Ele.me food-delivery platform in a combined local-services company under a single management team and moved to consolidate it. Koubei earns revenue from merchant marketing and services rather than from delivery.


Founded

2004

HQ

ChinaHangzhou

Website

koubei.com

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Valuation

$8B (Jan 2017)

Koubei Valuation

Koubei is currently valued at $8B, based on its undisclosed-stage round in January 2017. Read the announcement ↗

The $1.1B round was led by CDH Investments, Primavera Capital Group, Silver Lake and YF Capital.

Koubei valuation by funding round

Koubei valuation by funding round
DateStageValuation
Jan 2017Undisclosed stage$8B

Koubei Funding History

Koubei has raised a total of $1.1B across 1 funding round.

Koubei funding rounds

Koubei funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2017Undisclosed stageCDH Investments (lead); Primavera Capital Group (lead); Silver Lake (lead); YF Capital (lead)$1.1B$8BKoubei, an Alibaba affiliate and 50-50 joint venture with Ant Financial launched in 2015, operates a local services platform offering online-to-offline commerce including restaurant reservations, movie tickets, and merchant marketing in China. It closed a $1.1 billion equity financing round in January 2017 led by Silver Lake, CDH Investments, Yunfeng Capital, and Primavera Capital Group, marking its first external investment after initial RMB 3 billion contributions from Alibaba and Ant Financial. The round provided capital for aggressive growth against competitors like Meituan-Dianping and Ele.me. A Wall Street Journal report from October 2016 indicated a nearly $8 billion valuation, but Alibaba did not confirm this figure. In Q4 2016 (ended Dec 31), Koubei processed 73.1 billion RMB ($10.5 billion) in payment volume through Alipay, up 52% quarter-over-quarter, with annual GMV of 173.1 billion RMB and partnerships with over 1.5 million offline merchants. Koubei reported losses, with Alibaba attributing 237 million RMB quarterly loss to it, implying total quarterly losses around 474 million RMB. CEO Samuel Fan targeted profitability by 2019 through expanded offline vendor partnerships.

Who has invested in Koubei?

4 investors have backed Koubei across its funding rounds, including CDH Investments, Silver Lake, YF Capital and Primavera Capital Group.

Lead investors include CDH Investments, Primavera Capital Group, Silver Lake and YF Capital.


Koubei Investors

Investors in Koubei by funding rounds participated
InvestorHQRoundsRoleFirst check
Silver LakeUnited StatesSan Francisco, CA1LeadJan 2017
YF CapitalChinaShanghai1LeadJan 2017

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments by Koubei

Koubei has invested in 5 companies to date.

Latest investment by Koubei was on September 3rd 2018. Koubei invested in BOKA in their $15M Series B round.


Latest Investments by Koubei

BOKA
Meiwei Buyongdeng
Xiyun International
Silver Box System
Description
Shanghai-based BOKA delivers SaaS platforms tailored for China's life services sector. The company specializes in management and marketing software for hairdressing salons, beauty clinics, nail art studios, medical aesthetics centers, pedicure shops, yoga studios, dance academies, fitness centers, and sports facilities. BOKA maintains over 40 service centers nationwide to support store operations with localized solutions. Founded in 2004, it integrates with platforms like Ali Koubei for enhanced O2O capabilities.
Meiwei Buyongdeng is a provider of smart food service solutions in China. It delivers B2B SaaS tools and consumer apps addressing restaurant efficiency, management, marketing, costs, and dining experiences. The company connects restaurants with consumers via a nationwide sales network, headquartered in China with operations spanning major cities.
China-headquartered Xiyun International supplies group catering services to corporate clients. It manages brand positioning, procures daily ingredients through its supply chain, ensures food safety compliance, trains personnel, and implements IT systems for order tracking and inventory control across multiple facilities.
Silver Box System is a provider of cloud-based point-of-sale systems tailored for restaurants and catering businesses in China. The company delivers integrated platforms encompassing catering management software, smart all-in-one payment terminals, merchant mobile applications, supply chain tracking tools, and intelligent hardware terminals. Its self-service offerings include touchscreen ordering kiosks, handheld POS devices, kitchen display systems, operational dashboards, QR code-based ordering, credit financing options, membership management modules, targeted marketing automation, and real-time data reporting features. Operating primarily through its POSaaS platform, Silver Box System supports streamlined front-of-house and back-of-house processes for hospitality operators nationwide.
HQ CountryChinaChinaChinaChina
HQ City
Shanghai
Shanghai
Beijing
Hangzhou
Deal Date3 Sep 201811 May 20189 May 201831 Mar 2018
RoundSeries BSeries DSeries ASeries C
Raised$15M$63M$200M$5M
Investors-Alibaba Group; Trip.comAnt Group; CDH Investments-
Valuationundisclosed$628Mundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Koubei Competitors

Koubei competitors include listed companies like Kakaku.com, Autohome, News Corp and TX Group, and private ones like BGL Group and CargoX.

Public and private companies comparable to Koubei
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Kakaku.comJapanJapanPublicly listed$597M$173M$4.7B6.6x
BGL GroupUnited KingdomPeterboroughPrivate$778M-$2.4B3.0x
AutohomeChinaChinaPublicly listed$969M$172M$2.3B-
CargoXBrazilSão PauloPrivate--$1B-
News CorpUnited StatesUnited StatesPublicly listed$9B$1.5B$16B1.9x
TX GroupSwitzerlandSwitzerlandPublicly listed$1.1B$309M$2.3B2.4x

Koubei Public Comps

Koubei is still privately-owned, but its public comps include M3 Inc., Info Edge, Food & Life Companies, McDonald's Japan, Brinker International, Luckin Coffee, Cava Group, Scout24, Guming Holdings and carsales.com.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
M3 Inc.$2.2B$467M3.2x3.0x15.5x12.1x
Info Edge$345M$210M22.8x22.8x37.5x53.7x
Food & Life Companies$2.7B$229M3.4x2.8x41.0x15.5x
McDonald's Japan$2.6B$434M2.6x2.6x15.8x-
Brinker International$5.8B$840M1.8x1.8x12.6x11.9x
Luckin Coffee$7.4B$999M1.2x1.0x9.0x7.2x
Cava Group$1.2B$129M5.9x4.8x53.7x37.7x
Scout24$726M$373M9.7x8.4x18.9x14.0x

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Common questions about Koubei

When was Koubei founded?Koubei was founded in 2004.
Where is Koubei headquartered?Koubei is headquartered in Hangzhou, China.
Is Koubei publicly listed?No, Koubei is a private, VC-backed company.
What is Koubei's valuation?Koubei was last valued at $8B in its undisclosed-stage round in January 2017.
How much funding has Koubei raised?Koubei has raised $1.1B across 1 funding round.
What was Koubei's last funding round?Koubei's last funding round was a $1.1B undisclosed-stage round in January 2017, led by CDH Investments, Primavera Capital Group, Silver Lake and YF Capital.
Who are Koubei's investors?Koubei's investors include Silver Lake, YF Capital, Primavera Capital Group and CDH Investments.
Which companies are comparable to Koubei?Companies comparable to Koubei include Kakaku.com, BGL Group, Autohome, CargoX, News Corp and TX Group.
How many companies has Koubei invested in?Koubei has invested in 5 companies, including BOKA, Meiwei Buyongdeng, Xiyun International, Silver Box System and CHOICE.
What was Koubei's last investment?In September 2018, Koubei invested in BOKA's $15M Series B.

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