To8to Valuation, Funding & Investors

To8to is valued at $2B as of March 2015.

See full To8to profile

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

To8to Overview

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

ChinaShenzhen

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

To8to valuation by funding round
DateStageValuation
Mar 2015Series 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

To8to funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2015Series CMatrix Partners China; Sequoia Capital; 58.com$200M$2BTo8to (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 2014Series BHSG (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

Investors in To8to by funding rounds participated
InvestorHQRoundsRoleFirst check
Matrix Partners ChinaChinaBeijing2ParticipantFeb 2014
Sequoia CapitalUnited StatesSan Francisco, CA1ParticipantMar 2015

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To8to Competitors

To8to competitors include listed companies like TX Group and Lime, and private ones like BlaBlaCar, GetYourGuide, Avant and ZigBang.

Public and private companies comparable to To8to
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BlaBlaCarFranceParisPrivate$291M-$2B6.9x
GetYourGuideGermanyBerlinPrivate--$2B-
AvantUnited StatesChicago, ILPrivate--$2B-
ZigBangSouth KoreaSeoulPrivate$80M-$2B25.4x
TX GroupSwitzerlandSwitzerlandPublicly listed$1.1B$310M$2B2.1x
LimeUnited StatesUnited StatesPublicly 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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ziff Davis$1.5B$335M0.9x1.0x3.8x3.3x
TX Group$1.1B$310M2.1x2.1x7.2x8.1x
Lime$887M$87M2.2x-22.2x-
TBO.com$262M$41M6.7x5.2x43.2x34.3x
ACV Auctions$760M($19M)2.3x2.1x(89.6x)24.8x
Visional$515M$157M3.3x2.6x10.8x9.3x
Stubhub$1.7B($1.4B)1.4x1.3x(1.7x)6.7x
GO$266M$49M5.4x5.3x29.4x24.7x

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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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