- Companies
- To8to
Last To8to valuation
$2B
Series C · Mar 2015
Last To8to funding round
$200M
Series C · Mar 2015
Cumulative funding To8to raised
$216M
across 2 funding rounds
Key investors in To8to
Matrix Partners China
Sequoia Capital
HSG
58.com
About To8to
To8to is a Shenzhen-headquartered online platform matching homeowners with interior designers and renovation contractors across 80 cities in China. It features portfolios from designers and verified contractors specializing in apartment makeovers, kitchen remodels, and custom furniture installations.
Founded
2008
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$2B (Mar 2015)
To8to Valuation
To8to is currently valued at $2B, based on its Series C in March 2015.
The $200M round included Matrix Partners China, Sequoia Capital and 58.com.
To8to valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2015 | Series C | $2B |
To8to Funding History
To8to has raised a total of $216M across 2 funding rounds.
To8to's first fundraising round was a $16M Series B in February 2014. The most recent completed round was a $200M Series C in March 2015.
To8to funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2015 | Series C | Matrix Partners China; Sequoia Capital; 58.com | $200M | $2B | To8to (also known as Tubatu.com) is a Shenzhen-based online home renovation and interior design platform founded in 2008 by Guobin Wang, connecting homeowners with decoration companies, designers, contractors, and material suppliers. It operates in China's competitive proptech and O2O home services market, competing with firms like Qijia, IKongJian, and Qeeka Home. The company achieved unicorn status in 2015 with a $2 billion valuation following its Series C funding round. In its Series C round around March or September 2015, To8to raised $200 million led by Sequoia Capital China, Matrix Partners China, and 58.com (also listed as 58City). This was part of total funding of approximately $216.5 million across three or four rounds. The post-money valuation at the time was reported as $2 billion USD. Later metrics from 2018-2020 IPO filings show revenue growing from RMB 583 million in 2018 to RMB 680 million in 2019, dropping to RMB 615 million in 2020 due to COVID-19, with net profit reaching RMB 86.6 million in 2020; however, these are post-2015 and not tied to the round. The platform served about 114,000 renovation companies and 9,000 material suppliers by 2021. To8to filed for an IPO on the Shenzhen Stock Exchange's GEM in June 2021 to raise about $108 million for technology upgrades and expansion, after a failed Hong Kong attempt. |
| Feb 2014 | Series B | HSG (lead); Matrix Partners China | $16M | - | - |
Who has invested in To8to?
4 investors have backed To8to across its funding rounds, including Matrix Partners China, Sequoia Capital, HSG and 58.com.
Lead investors include HSG.
To8to Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Feb 2014 | ||
| 1 | Participant | Mar 2015 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialTo8to Competitors
To8to competitors include listed companies like TX Group and Lime, and private ones like BlaBlaCar, GetYourGuide, Avant and ZigBang.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $291M | - | $2B | 6.9x | ||
| Private | - | - | $2B | - | ||
| Private | - | - | $2B | - | ||
| Private | $80M | - | $2B | 25.4x | ||
| Publicly listed | $1.1B | $310M | $2B | 2.1x | ||
| Publicly listed | $887M | $87M | $2B | - |
To8to Public Comps
To8to is still privately-owned, but its public comps include Ziff Davis, TX Group, Lime, TBO.com, ACV Auctions, Visional, Stubhub, GO, eFinance and Urban Company.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.5B | $335M | 0.9x | 1.0x | 3.8x | 3.3x | |||
| $1.1B | $310M | 2.1x | 2.1x | 7.2x | 8.1x | |||
| $887M | $87M | 2.2x | - | 22.2x | - | |||
| $262M | $41M | 6.7x | 5.2x | 43.2x | 34.3x | |||
| $760M | ($19M) | 2.3x | 2.1x | (89.6x) | 24.8x | |||
| $515M | $157M | 3.3x | 2.6x | 10.8x | 9.3x | |||
| $1.7B | ($1.4B) | 1.4x | 1.3x | (1.7x) | 6.7x | |||
| $266M | $49M | 5.4x | 5.3x | 29.4x | 24.7x | |||
This data is available for Pro users. Sign up to see all To8to competitors and their valuation data. Start Free Trial | ||||||||
Common questions about To8to
| When was To8to founded? | To8to was founded in 2008. |
| Where is To8to headquartered? | To8to is headquartered in Shenzhen, China. |
| Is To8to publicly listed? | No, To8to is a private, VC-backed company. |
| What is To8to's valuation? | To8to was last valued at $2B in its Series C in March 2015. |
| How much funding has To8to raised? | To8to has raised $216M across 2 funding rounds. |
| What was To8to's last funding round? | To8to's last funding round was a $200M Series C in March 2015. |
| Who are To8to's investors? | To8to's investors include Matrix Partners China, Sequoia Capital, 58.com and HSG. |
| Which companies are comparable to To8to? | Companies comparable to To8to include BlaBlaCar, GetYourGuide, Avant, ZigBang, TX Group and Lime. |
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