Shouqi Limousine & Chauffeur Revenue, Valuation, Funding & Investors

Shouqi Limousine & Chauffeur is valued at $1B as of November 2017, a 23.3x multiple on its last reported $43M revenue.

Last Shouqi Limousine & Chauffeur valuation

$1B

Series B · Nov 2017

Last Shouqi Limousine & Chauffeur funding round

$106M

Series B · Nov 2017

Shouqi Limousine & Chauffeur revenue

$43M

Series B · Nov 2017

Key investors in Shouqi Limousine & Chauffeur

  • Baidu
  • NIO Capital
  • Harvest Capital
  • China Jianyin Investment
  • Silk Road Huachuang

Shouqi Limousine & Chauffeur Overview

About Shouqi Limousine & Chauffeur

Shouqi Limousine & Chauffeur is a Chinese premium car-hailing service owned by Beijing's state-owned Shouqi Group, distinguished by owning its own fleet of vehicles rather than relying on independent drivers. Founded in 2015, it competes with Didi Chuxing across 53 Chinese cities with a fleet of roughly 60,000 vehicles and more than 20 million registered users, and has built partnerships with Baidu and NIO to bring autonomous driving technology and electric vehicles into its transportation ecosystem.


Founded

2015

HQ

ChinaChina

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Commission

Revenue

$43M (Nov 2017)

Valuation

$1B (Nov 2017)

Shouqi Limousine & Chauffeur Valuation

Shouqi Limousine & Chauffeur is currently valued at $1B, based on its Series B in November 2017.

The $106M round was led by Baidu and NIO Capital, with participation from Silk Road Huachuang.

Shouqi Limousine & Chauffeur valuation by funding round

Shouqi Limousine & Chauffeur valuation by funding round
DateStageValuationRevenue Multiple
Nov 2017Series B$1B23.3x

Shouqi Limousine & Chauffeur Revenue

Shouqi Limousine & Chauffeur's latest recorded revenue is $43M, as of its Series B in November 2017. At a $1B valuation, that implies a 23.3x revenue multiple.

Shouqi Limousine & Chauffeur revenue by funding round

Shouqi Limousine & Chauffeur revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2017$43M$1B23.3xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Shouqi Limousine & Chauffeur Funding History

Shouqi Limousine & Chauffeur has raised a total of $140M across 2 funding rounds.

Shouqi Limousine & Chauffeur's first fundraising round was a $34M Series A in June 2015. The most recent completed round was a $106M Series B in November 2017.

Shouqi Limousine & Chauffeur funding rounds

Shouqi Limousine & Chauffeur funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2017Series BBaidu (lead); NIO Capital (lead); Silk Road Huachuang$106M$1BShouqi Limousine & Chauffeur is a Chinese premium car-hailing service owned and operated by Beijing's state-owned Shouqi Group, offering a chauffeured on-demand service that differentiates itself by owning its fleet of vehicles rather than relying on independent drivers. The company was founded in 2015 as an offshoot of Shouqi Group and competes in China's ride-hailing market dominated by Didi Chuxing, operating across 53 cities with a fleet of 60,000 vehicles and over 20 million registered users, of which 2.4 million were active as of November 2017. In November 2017, Shouqi raised RMB 1.3 billion (approximately $196 million) across two tranches: a Series B round of RMB 600 million ($88 million) announced in July 2017 and a B+ round of RMB 700 million ($105–106 million) co-led by internet giant Baidu and electric vehicle maker NIO in November. The B+ round was also joined by Silk Road Huachuang. This funding elevated Shouqi to unicorn status with a valuation exceeding $1 billion. Baidu and NIO provided strategic support beyond capital, offering access to Baidu's autonomous driving and artificial intelligence technologies (including the DuerOS platform) and NIO's smart electric vehicle expertise to help Shouqi build an integrated transportation ecosystem. At the time of the July Series B round closure, Shouqi was valued at $750 million. By the completion of the B+ round in November 2017, the company's valuation had crossed $1 billion. Financial metrics from early 2017 showed operating revenue of CNY 299 million for the first four months of the year and a net loss of CNY 450 million for the same period, reflecting the company's ongoing investment phase and competitive pressures in the ride-hailing sector. Prior year figures (2016) showed operating revenue of CNY 378 million with a net loss of CNY 881 million, while 2015 had only CNY 7.77 million in operating revenue.
Jun 2015Series AChina Jianyin Investment (lead); Harvest Capital (lead)$34M-Shouqi Limousine & Chauffeur, a ride-hailing and car-booking service founded in 2015 as a subsidiary of state-owned Shouqi Group, focuses on higher-end chauffeur services using professional drivers who were previously taxi drivers with local hukou, distinguishing it from competitors like Didi Chuxing that rely on part-time private drivers. The company secured a $34 million Series A round in 2015 led by China Jianyin Investment, with Harvest Capital also participating. It later raised additional funds, including a CNY600 million (USD90.4 million) B-round in 2017 led by Beijing Minqi Management Consulting (backed by China Oceanwide Holdings), and $105 million from a Baidu-led group including NIO Capital. In the 2015 Series A timeframe, Shouqi reported operating revenue of CNY7.77 million alongside a net loss of CNY58.7 million, reflecting early-stage challenges in the competitive ride-hailing market. By 2017, revenue had grown significantly, with CNY299 million in the first four months of the year (net loss CNY450 million), CNY378 million operating income for the prior year (net loss CNY881 million), and the company operating in 53 cities with over 60,000 cars and 20 million users including 2.4 million active users. Shouqi aimed for profitability in select cities amid fierce competition and pursued partnerships like with Mobike for app integration and Baidu for mapping, driverless tech, and NIO for electric vehicles. It obtained a nationwide online car rental license in February 2017, becoming the second firm to do so, and benefited from China's 2016 ride-hailing legalization with its compliant driver and vehicle base. Post-B-round valuation reached CNY6 billion, with plans for a follow-on to hit CNY10 billion.

Who has invested in Shouqi Limousine & Chauffeur?

5 investors have backed Shouqi Limousine & Chauffeur across its funding rounds, including Baidu, NIO Capital, Harvest Capital, China Jianyin Investment and Silk Road Huachuang.

Lead investors include Baidu, NIO Capital, China Jianyin Investment and Harvest Capital.


Shouqi Limousine & Chauffeur Investors

Investors in Shouqi Limousine & Chauffeur by funding rounds participated
InvestorHQRoundsRoleFirst check
China Jianyin InvestmentChinaBeijing1LeadJun 2015
Harvest CapitalChinaBeijing1LeadJun 2015
BaiduChinaBeijing1LeadNov 2017

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Shouqi Limousine & Chauffeur Competitors

Shouqi Limousine & Chauffeur competitors include listed companies like GO and Lime, and private ones like SAIC Mobility, GO, inDrive and eDaijia.

Public and private companies comparable to Shouqi Limousine & Chauffeur
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SAIC MobilityChinaChinaPrivate--$1B-
GOJapanTokyoPrivate--$985M-
inDriveRussiaMoscowPrivate--$1.3B-
eDaijiaChinaBeijingPrivate--$800M-
GOJapanJapanPublicly listed$266M$49M$1.7B5.3x
LimeUnited StatesUnited StatesPublicly listed$887M$87M$2B-

Shouqi Limousine & Chauffeur Public Comps

Shouqi Limousine & Chauffeur is still privately-owned, but its public comps include CaoCao, GO, BiNBiN, Socar, Martı, PickMe, Dida, Ryde Group, Freetrailer Group and Lime.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CaoCao$3B$51M0.6x0.6x35.8x33.9x
GO$266M$49M5.4x5.3x29.4x24.7x
BiNBiN$11M($12M)30.9x-(27.8x)-
Socar$343M$72M1.5x-7.0x-
Martı$39M($23M)6.9x3.8x(11.8x)115.5x
PickMe$26M-6.3x5.2x--
Dida$75M$18M----
Ryde Group$10M($13M)12.8x-(9.5x)-

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Common questions about Shouqi Limousine & Chauffeur

When was Shouqi Limousine & Chauffeur founded?Shouqi Limousine & Chauffeur was founded in 2015.
Where is Shouqi Limousine & Chauffeur headquartered?Shouqi Limousine & Chauffeur is headquartered in China.
Is Shouqi Limousine & Chauffeur publicly listed?No, Shouqi Limousine & Chauffeur is a private, VC-backed company.
What is Shouqi Limousine & Chauffeur's valuation?Shouqi Limousine & Chauffeur was last valued at $1B in its Series B in November 2017.
How much funding has Shouqi Limousine & Chauffeur raised?Shouqi Limousine & Chauffeur has raised $140M across 2 funding rounds.
What was Shouqi Limousine & Chauffeur's last funding round?Shouqi Limousine & Chauffeur's last funding round was a $106M Series B in November 2017, led by Baidu and NIO Capital.
Who are Shouqi Limousine & Chauffeur's investors?Shouqi Limousine & Chauffeur's investors include China Jianyin Investment, Harvest Capital, Baidu, Silk Road Huachuang and NIO Capital.
What is Shouqi Limousine & Chauffeur's revenue?Shouqi Limousine & Chauffeur's latest recorded revenue is $43M (November 2017).
What is Shouqi Limousine & Chauffeur's revenue multiple?Shouqi Limousine & Chauffeur's latest valuation implies a 23.3x revenue multiple ($1B valuation on $43M of revenue).
Which companies are comparable to Shouqi Limousine & Chauffeur?Companies comparable to Shouqi Limousine & Chauffeur include SAIC Mobility, GO, inDrive, eDaijia, GO and Lime.

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