Yijiupi Valuation, Funding & Investors
Yijiupi is valued at $1.1B as of September 2018.
About Yijiupi
Yijiupi is a Wuhu-headquartered e-commerce platform founded in September 2014 that streamlines China's wine supply chain by linking producers directly to retailers and distributors. It delivers shared warehousing and distribution services alongside supply chain financing options. The company runs offline retail chains and has broadened operations into beverages and food sectors to reach more consumers nationwide. Operating from Anhui province, Yijiupi supports B2B transactions in alcohol products across multiple regions.
Founded
2014
HQ
WuhuWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$1.1B (Sep 2018)
Yijiupi Valuation
Yijiupi is currently valued at $1.1B, based on its Series D in September 2018.
The $200M round was led by Meituan and Tencent, with participation from China Everbright and Source Code Capital.
Yijiupi valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2018 | Series D | $1.1B |
Yijiupi Funding History
Yijiupi has raised a total of $511M across 5 funding rounds.
Yijiupi's first fundraising round was a $31M Series B in September 2015. The most recent completed round was a $80M Series D in August 2019.
Yijiupi funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2019 | Series D | Tencent (lead) | $80M | - | Yijiupi is a Chinese B2B e-commerce platform for beverages and fast-moving consumer goods (FMCG) that facilitates transactions between businesses, including liquor stores, convenience stores, and supermarkets. Founded in 2014, the company expanded from online liquor trading to become a comprehensive FMCG B2B platform covering all first and second-tier cities across 26 Chinese provinces with presence in 140 prefecture-level cities. In August 2019, Tencent invested an additional $80 million in Yijiupi as a strategic investment, marking a follow-on commitment from the internet giant that had previously invested $200 million in the company's Series D round in September 2018 at a $1.1 billion valuation. This August 2019 investment brought Yijiupi's total funding to over $510 million since its 2014 founding, following a $100 million Series D-plus investment by Warburg Pincus in March 2019. The company reported that its platform gross merchandise volume (GMV) was set to pass RMB 20 billion (approximately $2.8 billion USD) in 2019, up from RMB 13 billion (approximately $1.8 billion USD) the prior year. Beyond serving as a trading platform, Yijiupi worked to transform conventional retail locations into new retail terminals through technology integration, helping small stores improve their ERP systems and offering mini-programs on Meituan, demonstrating the company's strategy to bridge consumer and industrial internet ecosystems. |
| Mar 2019 | Series D | Warburg Pincus (lead) | $100M | - | Yijiupi is a Chinese B2B mobile e-commerce platform founded in 2014 that digitizes supply chain efficiency in the fast-moving consumer goods (FMCG) sector, covering all major product categories including alcoholic beverages and food products. The company operates a mobile-based e-commerce platform, supply chain and logistics platform, retail chain management platform, and supply chain financing solutions, with self-operated distribution capabilities across more than 130 cities in China. In March 2019, Yijiupi completed a Series D+ financing round from Warburg Pincus, raising $100 million to fund national network expansion, new retail initiatives, and R&D. The company had achieved a gross merchandise value of approximately $2.0 billion in 2018 and generated more than RMB 8 billion in supply chain financing. Prior to this round, Yijiupi had raised $200 million in its Series D round in September 2018 from Meituan Dianping, Tencent Holdings, Source Code Capital, and China Everbright at a $1.1 billion valuation, which made it a unicorn. The Warburg Pincus investment brought Yijiupi's cumulative funding to over $300 million at that point, with additional $80 million from Tencent following later in 2019. |
| Sep 2018 | Series D | Meituan (lead); Tencent (lead); China Everbright; Source Code Capital | $200M | $1.1B | Yijiupi is a Chinese B2B e-commerce platform founded in 2014 that digitizes the fast-moving consumer goods (FMCG) industry. The company began as an online alcoholic beverage trading service for businesses but has diversified into a comprehensive vertically integrated platform covering beverages, foods, toiletries, and other commodities with both online wholesale and offline delivery services across more than 130 Chinese cities. In September 2018, Yijiupi closed a $200 million Series D funding round co-led by Tencent Holdings and Meituan Dianping at a post-money valuation of $1.1 billion, making it a unicorn. The round also included participation from China Everbright Group and Source Code Capital. In 2018, Yijiupi surpassed RMB 13 billion (US$1.9 billion) in sales and distributed more than RMB 8 billion in supply chain financing. The company was operating in 83 cities at the time of the Series D round and aimed to nearly double its gross merchandise volume from RMB 12 billion in 2017 to RMB 20 billion by end-2018. Yijiupi used the Series D proceeds to expand its warehouse system, diversify product categories, develop supply chain services including warehousing and financing capabilities, and accelerate geographic expansion by leveraging Tencent's WeChat payment system and Meituan Dianping's delivery infrastructure. |
| Oct 2016 | Series C | Greenwoods Asset Management (lead); Meituan; Huagai Capital; Lighthouse Capital Partners; Source Code Capital | $100M | - | Yijiupi is a Chinese B2B liquor-trading platform operating as yijiupi.com that provides a one-stop researching, price checking, and ordering platform for businesses to buy and sell alcoholic beverages. Founded in 2014, the company had expanded to operate in 72 cities across China by late 2016. In September 2016, Greenwoods Asset Management led a $100 million Series C funding round alongside Source Code Capital, Lighthouse Capital, Meituan-Dianping, and HG Capital. The capital was intended to support expansion to 150 cities before the end of 2017. The company later raised $200 million in Series D funding from Tencent and Meituan Dianping in September 2018, which established its unicorn status at a $1.1 billion valuation. By mid-2018, Yijiupi had over 3,000 employees and offered more than 40,000 product SKUs while operating in 83 cities, with the company expecting to complete 20 billion yuan in GMV during 2018. |
| Sep 2015 | Series B | Eastern Bell Capital (lead); Source Code Capital | $31M | - | Yijiupi is China’s largest B2B liquor trading platform, founded in 2014, connecting retailers like restaurants and shops to distributors for wine, spirits, and beverages. It operates as an e-commerce platform restructuring the beverage supply chain, with business in 83 cities by June 2018 and over 40,000 product SKUs. The company has raised significant funding, including USD 200 million from Meituan-Dianping and Tencent in September 2019 at a USD 1.1 billion valuation, achieving unicorn status. Total funding exceeds $367 million by 2018 and $511 million overall, with investors like Eastern Bell Capital, Source Code Capital, Tencent, Meituan, and Warburg Pincus. Yijiupi competes in China’s B2B e-commerce for alcohol, alongside platforms like Jiuxian (B2C focus). |
Who has invested in Yijiupi?
9 investors have backed Yijiupi across its funding rounds, including Source Code Capital, Tencent, Meituan, Warburg Pincus, Eastern Bell Capital and Huagai Capital.
Lead investors include Tencent, Warburg Pincus, Meituan, Greenwoods Asset Management and Eastern Bell Capital.
Yijiupi Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Chaoyang | 3 | Participant | Sep 2015 | |
| Beijing | 2 | Lead | Oct 2016 | |
| Shenzhen | 2 | Lead | Sep 2018 | |
| Beijing | 1 | Participant | Oct 2016 | |
 New York City, NY | 1 | Lead | Mar 2019 | |
 Hong Kong | 1 | Lead | Oct 2016 | |
| Hong Kong | 1 | Participant | Sep 2018 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Yijiupi
Yijiupi has acquired 2 companies to date.
Last acquisition by Yijiupi was on February 12th 2020. Yijiupi acquired Zskuaixiao for undisclosed valuation.
Latest Acquisitions by Yijiupi
| Description | Zskuaixiao is a B2B e-commerce platform distributing consumer goods to retailers and wholesalers. Shanghai-based, the company connects manufacturers with buyers across categories like electronics, apparel, and home products, facilitating bulk transactions through its online marketplace at zskuaixiao.com. | Huijin Huo is a Beijing-based internet platform streamlining procurement orders for small and medium-sized supermarkets. Launched in 2016, it connects over 10,000 retailers with 2,000 suppliers for daily essentials like beverages and snacks, processing 500,000 orders monthly. The system uses logistics APIs for same-day delivery in northern China provinces. |
| HQ Country | | |
| HQ City | Guangzhou | Chengdu |
| Deal Date | 12 Feb 2020 | 8 May 2018 |
| Valuation | undisclosed | $8M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Yijiupi acquisitions and their M&A valuation multiples. Start Free Trial | ||
Yijiupi Competitors
Yijiupi competitors include listed companies like GoodRx and Moonpig Group, and private ones like Misfits Market, NOME, Flip and Jiuxian.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Portland, OR | Private | - | - | $2B | - | |
| Guangzhou | Private | - | - | $1.1B | - | |
| Los Angeles, CA | Private | - | - | $1.1B | - | |
| Beijing | Private | - | - | $1B | - | |
| United States | Publicly listed | $797M | $173M | $1.2B | 1.8x | |
 United Kingdom | Publicly listed | $501M | $140M | $1B | 2.3x |
Yijiupi Public Comps
Yijiupi is still privately-owned, but its public comps include SOLIBRA Cote d'Ivoire, Mission Produce, M. Dias Branco, Orion Holdings, Isfelag, BellRing Brands, Princes Group, Aryzta, GoodRx and Mezzan Holding.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $1.4B | $104M | 1.1x | 1.1x | 15.4x | 14.3x | |||
| $2B | $250M | 0.5x | 0.5x | 4.2x | 5.0x | |||
| $2.5B | $518M | 0.9x | - | 4.3x | - | |||
| $214M | $52M | 5.7x | - | 23.6x | - | |||
| $2.3B | $376M | 0.9x | 0.9x | 5.7x | 7.3x | |||
| $2.5B | $200M | 0.3x | 0.3x | 3.6x | 3.3x | |||
| $2.6B | $353M | 0.8x | 0.8x | 5.8x | 5.7x | |||
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Common questions about Yijiupi
| When was Yijiupi founded? | Yijiupi was founded in 2014. |
| Where is Yijiupi headquartered? | Yijiupi is headquartered in Wuhu, China. |
| Is Yijiupi publicly listed? | No, Yijiupi is a private, VC-backed company. |
| What is Yijiupi's valuation? | Yijiupi was last valued at $1.1B in its Series D in September 2018. |
| How much funding has Yijiupi raised? | Yijiupi has raised $511M across 5 funding rounds. |
| What was Yijiupi's last funding round? | Yijiupi's last funding round was a $80M Series D in August 2019, led by Tencent. |
| Who are Yijiupi's investors? | Yijiupi's investors include Source Code Capital, Meituan, Tencent, Huagai Capital, Warburg Pincus, Greenwoods Asset Management, China Everbright, Lighthouse Capital Partners and Eastern Bell Capital. |
| Which companies are comparable to Yijiupi? | Companies comparable to Yijiupi include Misfits Market, NOME, Flip, Jiuxian, GoodRx and Moonpig Group. |
| How many companies has Yijiupi acquired? | Yijiupi has acquired 2 companies, including Zskuaixiao and Huijin Huo. |
| What was the largest acquisition by Yijiupi? | The $8M acquisition of Huijin Huo in May 2018 is the largest acquisition Yijiupi has made to date. |
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