Snack Is Busy Valuation, Funding & Investors

Snack Is Busy is valued at $1.5B as of December 2023.

Last Snack Is Busy valuation

$1.5B

Strategic investment · Dec 2023

Last Snack Is Busy funding round

$147M

Strategic investment · Dec 2023

Cumulative funding Snack Is Busy raised

$198M

across 3 funding rounds

Key investors in Snack Is Busy

  • HSG
  • Gaorong Capital
  • Maxceed
  • BA Capital
  • Wuyuan Capital
  • GenBridge Capital

Snack Is Busy Overview

About Snack Is Busy

Snack Is Busy is a Hangzhou-based chain of neighborhood snack retail stores targeting urban communities in China. It offers ready-to-eat items like fried chicken, popcorn, beverages, and desserts through over 1,000 outlets in Zhejiang and Jiangsu provinces. Founded in 2016, the brand emphasizes 24-hour access and delivery via Meituan and Ele.me partnerships, catering to daily consumer needs with localized menus.


Founded

2016

HQ

ChinaChangsha

Website

hnlshm.com

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$1.5B (Dec 2023)

Snack Is Busy Valuation

Snack Is Busy is currently valued at $1.5B, based on its strategic investment round in December 2023.

The $147M round was led by Haoxiangni Health Food and Yankershop Food Co.

Snack Is Busy's valuation has grown 5.1x from $290M at its Series A in May 2021 to $1.5B in December 2023, across 2 priced rounds.

Snack Is Busy valuation by funding round

Snack Is Busy valuation by funding round
DateStageValuation
Dec 2023Strategic investment$1.5B
May 2021Series A$290M

Snack Is Busy Funding History

Snack Is Busy has raised a total of $198M across 3 funding rounds.

Snack Is Busy's first fundraising round was a $37M Series A in May 2021. The most recent completed round was a $147M strategic investment round in December 2023.

Snack Is Busy funding rounds

Snack Is Busy funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2023Strategic investmentHaoxiangni Health Food (lead); Yankershop Food Co (lead)$147M$1.5BSnack Is Busy, operating as Lingshi Henmang or Busy for You (零食很忙), is a leading Chinese discount snack chain retailer founded in 2017 by Yan Zhou in Changsha, Hunan. It specializes in affordable, high-quality snacks and beverages sold through a franchise model, with products priced about 25% lower than supermarkets by sourcing directly from producers. In November 2023, it merged with rival Super Ming (趙一鳴零食), boosting its store count significantly; post-merger, outlets exceeded 6,500, rapidly expanding to over 10,000 by mid-2024 under the Busy Ming Group name. The company holds approximately 18% market share in China's snack mass retail sector alongside competitors like Haoxianglai. On December 18, 2023, Haoxiangni Health Food invested CNY700 million (USD98 million) for a 6.6% stake, and Yankershop Food (Yanker Shop) invested CNY350 million (USD49 million) for a 3.3% stake, totaling CNY1.1 billion (USD154 million) in a Series B round. Proceeds were allocated to warehouse construction, new product development, digital operations, marketing, and brand building. This investment followed the merger and aimed to strengthen competitiveness amid a price war and shifting retail habits, allowing investors like Haoxiangni (red date snacks) to leverage the retailer's vast network. Yankershop reported its own revenue of CNY3 billion (USD420 million) and net profit of CNY396 million (USD55.5 million) for the first three quarters prior to the investment. The retailer later grew to 19,517 stores by September 2025 and 21,041 by November 2025, achieving massive GMV of RMB66.1 billion in the nine months ended September 2025 (74.5% YoY growth), positioning it as China's largest snack chain by GMV in 2024 per Frost & Sullivan. Busy Ming Group IPO'd in Hong Kong in early 2026, raising HK$3.5 billion.
Nov 2023Series BMaxceed; Gaorong Capital; Qicheng Ziben; Wuyuan Capital; HSG; BA Capital$14M-Snack Is Busy, operating as Busy for You, raised approximately $37 million in a VC funding round around October 2023 from investors including BA Capital. The company, a discount snack retailer in China, later merged in 2023 to form Busy Ming Group with Zhao Yiming Snacks. BA Capital is noted as an early backer. Busy Ming operates under brands like Busy for You and Super Ming, offering affordable snacks, biscuits, nuts, and beverages at about 25% below supermarket prices through a franchised retail model. It became China's largest snack and beverage chain by retail sales value in 2024. The group pursued a Hong Kong IPO in January 2026, raising HK$3.67 billion (US$470 million).
May 2021Series AGaorong Capital (lead); HSG (lead); Maxceed; GenBridge Capital$37M$290MSnack Is Busy, operating as Busy For You at the time, is a Chinese discount snack and beverage retailer that focused initially on Hunan province before national expansion. In April 2021, it completed a Series A funding round led by HongShan (HSG), Gaorong Ventures (Gaorong Capital), and Genbridge Capital (GenBridge Capital), with a pre-money valuation of RMB 2 billion (USD 280 million). The company had no prior plans for external capital but shifted strategy amid market changes. Following this round, investment in China's consumer sector declined, prompting Busy For You to scale aggressively, exit Hunan in 2021, and later merge with Zhao Yiming Snacks in late 2023 to form Busy Ming Group. Busy Ming, the evolved entity, became China's largest chain retailer for snacks and beverages by 2024 gross merchandise value, operating over 19,500 stores across 28 provinces by 2025. It employs a direct-sourcing model to offer products like biscuits, nuts, and beverages at about 25% below supermarket prices, targeting value-conscious consumers in counties and townships. By 2025, Busy Ming achieved significant scale with RMB 55.5 billion GMV in 2024 and RMB 66.1 billion in the nine months ended September 2025 (up 74.5%), alongside RMB 46.4 billion revenue in the same period. It reported RMB 1.56 billion profit for nine months ending September 2025 and estimated 2025 profit at not less than RMB 2.3 billion. In January 2026, Busy Ming raised HK$3.67 billion (USD 470 million) in a Hong Kong IPO with cornerstone investors including Tencent, Temasek, BlackRock, and FIL, debuting with shares surging 88%.

Who has invested in Snack Is Busy?

9 investors have backed Snack Is Busy across its funding rounds, including HSG, Gaorong Capital, Maxceed, BA Capital, Wuyuan Capital and GenBridge Capital.

Lead investors include Haoxiangni Health Food, Yankershop Food Co, Gaorong Capital and HSG.


Snack Is Busy Investors

Investors in Snack Is Busy by funding rounds participated
InvestorHQRoundsRoleFirst check
MaxceedTaiwanTaipei2ParticipantMay 2021
Gaorong CapitalChinaBeijing2LeadMay 2021
HSGHong KongHong Kong2LeadMay 2021
Qicheng ZibenChinaXiamen1ParticipantNov 2023
GenBridge CapitalChinaBeijing1ParticipantMay 2021
Yankershop Food CoChinaChangsha1LeadDec 2023
Haoxiangni Health FoodChinaZhengzhou1LeadDec 2023

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Investments by Snack Is Busy

Snack Is Busy has invested in 1 company to date.

Latest investment by Snack Is Busy was on August 9th 2023. Snack Is Busy invested in Snacker Store in their $1M Strategic investment round.


Latest Investments by Snack Is Busy

Snacker Store
Description
Snacker Store is a Shanghai-based snack e-commerce platform delivering bulk and variety packs of chips, nuts, biscuits, and candies from brands like Lay's and Orion. It supplies offices and events in eastern China with minimum orders starting at 500 RMB. Established in 2015, Snacker Store warehouses in Jiangsu support same-day delivery to Shanghai and Hangzhou via SF Express.
HQ CountryChina
HQ City
Changsha
Deal Date9 Aug 2023
RoundStrategic investment
Raised$1M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Snack Is Busy Competitors

Snack Is Busy competitors include listed companies like J&J Snack Foods, Sally Beauty Holdings, NEXTAGE and Edgars Stores, and private ones like Hutouju and Carzone.

Public and private companies comparable to Snack Is Busy
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HutoujuChinaShanghaiPrivate--$550M-
J&J Snack FoodsUnited StatesUnited StatesPublicly listed$1.6B$161M$1.5B1.1x
Sally Beauty HoldingsUnited StatesUnited StatesPublicly listed$3.7B$428M$1.5B0.8x
NEXTAGEJapanJapanPublicly listed$4.2B$162M$1.5B0.4x
Edgars StoresZimbabweZimbabwePublicly listed$34M$9M$1.5B-
CarzoneChinaNanjingPrivate--$1.5B-

Snack Is Busy Public Comps

Snack Is Busy is still privately-owned, but its public comps include J&J Snack Foods, Sally Beauty Holdings, NEXTAGE, Edgars Stores, Osotspa, Del Monte, Nomad Foods, Bikaji Foods, Bilia and Kernel Holding.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
J&J Snack Foods$1.6B$161M1.0x1.1x9.9x9.1x
Sally Beauty Holdings$3.7B$428M0.8x0.8x6.6x6.4x
NEXTAGE$4.2B$162M0.5x0.4x12.4x9.2x
Edgars Stores$34M$9M43.3x-166.8x-
Osotspa$767M$180M1.7x1.7x7.3x7.4x
Del Monte$4.3B$213M0.5x0.4x9.5x8.4x
Nomad Foods$3.5B$417M1.1x1.1x9.2x6.7x
Bikaji Foods$306M$44M4.8x4.4x33.2x31.9x

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Common questions about Snack Is Busy

When was Snack Is Busy founded?Snack Is Busy was founded in 2016.
Where is Snack Is Busy headquartered?Snack Is Busy is headquartered in Changsha, China.
Is Snack Is Busy publicly listed?No, Snack Is Busy is a private, VC-backed company.
What is Snack Is Busy's valuation?Snack Is Busy was last valued at $1.5B in its strategic investment round in December 2023.
How much funding has Snack Is Busy raised?Snack Is Busy has raised $198M across 3 funding rounds.
What was Snack Is Busy's last funding round?Snack Is Busy's last funding round was a $147M strategic investment round in December 2023, led by Haoxiangni Health Food and Yankershop Food Co.
Who are Snack Is Busy's investors?Snack Is Busy's investors include Maxceed, Gaorong Capital, HSG, Qicheng Ziben, GenBridge Capital, Yankershop Food Co, Haoxiangni Health Food, Wuyuan Capital and BA Capital.
Which companies are comparable to Snack Is Busy?Companies comparable to Snack Is Busy include Hutouju, J&J Snack Foods, Sally Beauty Holdings, NEXTAGE, Edgars Stores and Carzone.
How many companies has Snack Is Busy invested in?Snack Is Busy has invested in 1 company, including Snacker Store.
What was Snack Is Busy's last investment?In August 2023, Snack Is Busy invested in Snacker Store's $1M strategic investment round.

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