Zhubajie Valuation, Funding & Investors

Zhubajie is valued at $1.6B as of June 2015.

Last Zhubajie valuation

$1.6B

Series C · Jun 2015

Last Zhubajie funding round

$419M

Series C · Jun 2015

Cumulative funding Zhubajie raised

$437M

across 2 funding rounds

Key investors in Zhubajie

  • IDG Capital
  • Cybernaut Venture Capital
  • Chongqing Cultural Investment Group
  • Chongqing New North Zone Government Investment Fund

Zhubajie Overview

About Zhubajie

Chongqing-headquartered Zhubajie is China's largest online marketplace for professional services, established in 2006. The platform facilitates non-standard service transactions in areas such as logo design, programming, intellectual property management, and finance, connecting businesses with skilled professionals and institutions nationwide. It listed on the Hong Kong Stock Exchange in 2018.


Founded

2006

HQ

ChinaChongqing

Website

zbj.com

Status

Privately held

Customer focus

B2B

Revenue model

Commission

Valuation

$1.6B (Jun 2015)

Zhubajie Valuation

Zhubajie is currently valued at $1.6B, based on its Series C in June 2015.

The $419M round was led by Chongqing New North Zone Government Investment Fund and Cybernaut Venture Capital.

Zhubajie valuation by funding round

Zhubajie valuation by funding round
DateStageValuation
Jun 2015Series C$1.6B

Zhubajie Funding History

Zhubajie has raised a total of $437M across 2 funding rounds.

Zhubajie's first fundraising round was a $18M Series B in April 2014. The most recent completed round was a $419M Series C in June 2015.

Zhubajie funding rounds

Zhubajie funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2015Series CChongqing New North Zone Government Investment Fund (lead); Cybernaut Venture Capital (lead)$419M$1.6BZhubajie.com is China's largest online platform for creative services and crowdsourcing, connecting employers needing design, IT, and other services with service providers. Founded in 2006 in Chongqing, it evolved into a comprehensive enterprise service e-commerce platform offering over 650 services by 2022, including smart enterprise services, industrial services, education, and financial services. In June 2015, it raised 2.6 billion yuan, the largest investment in China's services sector and West China's internet-related funding at the time, from Chongqing New North Zone Government Investment (1 billion yuan) and Cybernaut Venture Capital (1.6 billion yuan as prior C-round tranche). This funding accelerated expansion into a 'super incubator' across 35 cities, with plans for 100 cities, and IPO preparations in China instead of Nasdaq. Post-funding, Zhubajie was valued at 11 billion yuan (about $1.5 billion USD), positioning it toward unicorn status, with separate estimates exceeding 10 billion yuan. By end-2015, it had 15 million registered users, processing 1,000 orders daily (aiming for 6,000), and annual turnover of 7.5 billion yuan, after shifting from a 20% commission model and adding services like trademark registration and printing. It expected 10 billion yuan revenue in 2016 and profitability after years of losses. Earlier funding included 10 million yuan in 2007 from Chongqing Born Group and $10 million in 2011 from IDG. Later metrics show 2020-2022 operating income of 757 million, 768 million, and 541 million yuan respectively, with GMV leadership in customized enterprise services per iResearch, and 33.6 million registered users by end-2022 (26.3 million employers). The 2015 round supported local tech ecosystem growth in Chongqing's Liangjiang New Zone.
Apr 2014Series BIDG Capital (lead); Chongqing Cultural Investment Group$18M-Zhubajie is China's largest gig economy platform founded in 2006 in Chongqing, offering services including brand design, website construction, intellectual property, talent recruitment, digital asset trading, technology, creative design, software development, marketing, audiovisual production, international services, writing, construction, renovation, training, and consulting. Investors include IDG Capital, Cybernaut Growth Fund, and Chongqing New North Zone Government Investment Fund, with total funding raised of $443.76M across rounds up to Series C. A later Series C round in June 2015 raised 2.6 billion yuan from capital market investors and government agencies. In July 2019, Zhubajie was valued at over 10 billion yuan as a Sichuan-Chongqing unicorn company planning to go public.

Who has invested in Zhubajie?

4 investors have backed Zhubajie across its funding rounds, including IDG Capital, Cybernaut Venture Capital, Chongqing Cultural Investment Group and Chongqing New North Zone Government Investment Fund.

Lead investors include Chongqing New North Zone Government Investment Fund, Cybernaut Venture Capital and IDG Capital.


Zhubajie Investors

Investors in Zhubajie by funding rounds participated
InvestorHQRoundsRoleFirst check
IDG CapitalChinaBeijing1LeadApr 2014
Cybernaut Venture CapitalChinaHangzhou1LeadJun 2015

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Zhubajie

Zhubajie has acquired 1 company to date.

Last acquisition by Zhubajie was on September 7th 2017. Zhubajie acquired UWORKS for $8M.


Latest Acquisitions by Zhubajie

UWORKS
Description
UWORKS is a Chinese business operations provider handling brand marketing, software development, talent recruitment, IP management, finance, taxation, and technology consulting. It leverages SaaS tools for iterative category services via uworks.zbj.com.
HQ CountryChina
HQ City
Beijing
Deal Date7 Sep 2017
Valuation$8M
EV/Revenue
EV/EBITDA

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Investments by Zhubajie

Zhubajie has invested in 4 companies to date.

Latest investment by Zhubajie was on June 17th 2016. Zhubajie invested in 51Shebao in their $10M Series B round.


Latest Investments by Zhubajie

51Shebao
EFUBAO
Qingtuanshe
MYSIPO.COM
Description
-
EFUBAO is a Shanghai-based online platform for customizing corporate uniforms and group apparel. It offers design tools, bulk ordering, and production for workwear, promotional clothing, and team outfits, serving enterprises across manufacturing and service industries in China.
-
MYSIPO.COM is a Beijing-based digital platform for intellectual property services. It offers talent exchange for patent drafting, attorney consultations, trademark management, and enterprise IP strategies. The site connects users for knowledge sharing and hosts exam preparation for patent professionals in China.
HQ CountryChinaChinaChinaChina
HQ City
-
Beijing
-
Beijing
Deal Date17 Jun 201618 Apr 201613 Apr 201620 Oct 2015
RoundSeries BAngelSeries ASeries A
Raised$10M$2M$9M$6M
InvestorsCBC CapitalHuijia Venture Capital; Eve Group; Chongqing Wenhua ChuangtouAqua Ventures-
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Zhubajie Competitors

Zhubajie competitors include listed companies like Ziff Davis and BuySell Technologies, and private ones like Whop, Ganji, DealShare and Weidian Group.

Public and private companies comparable to Zhubajie
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
WhopUnited StatesNew York City, NYPrivate$142M-$1.6B11.3x
GanjiChinaBeijingPrivate--$1.6B-
DealShareIndiaBangalorePrivate--$1.6B-
Weidian GroupChinaBeijingPrivate--$1.4B-
Ziff DavisUnited StatesUnited StatesPublicly listed$1.5B$335M$2B1.0x
BuySell TechnologiesJapanJapanPublicly listed$647M$70M$1.2B1.4x

Zhubajie Public Comps

Zhubajie is still privately-owned, but its public comps include eFinance, GO, CarTrade Tech, ACV Auctions, Liquidity Services, Mony Group, Alma Media, Lime, Ziff Davis and BuySell Technologies.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
eFinance$130M$67M11.8x-22.8x-
GO$266M$49M5.4x5.3x29.4x24.7x
CarTrade Tech$81M$33M17.5x15.6x43.2x43.8x
ACV Auctions$760M($19M)2.3x2.1x(89.6x)24.8x
Liquidity Services$477M$45M2.4x2.4x24.9x14.4x
Mony Group$599M$184M2.3x2.3x7.5x7.1x
Alma Media$377M$110M3.8x3.7x13.1x11.6x
Lime$887M$87M2.2x-22.2x-

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Common questions about Zhubajie

When was Zhubajie founded?Zhubajie was founded in 2006.
Where is Zhubajie headquartered?Zhubajie is headquartered in Chongqing, China.
Is Zhubajie publicly listed?No, Zhubajie is a private, VC-backed company.
What is Zhubajie's valuation?Zhubajie was last valued at $1.6B in its Series C in June 2015.
How much funding has Zhubajie raised?Zhubajie has raised $437M across 2 funding rounds.
What was Zhubajie's last funding round?Zhubajie's last funding round was a $419M Series C in June 2015, led by Chongqing New North Zone Government Investment Fund and Cybernaut Venture Capital.
Who are Zhubajie's investors?Zhubajie's investors include IDG Capital, Cybernaut Venture Capital, Chongqing Cultural Investment Group and Chongqing New North Zone Government Investment Fund.
Which companies are comparable to Zhubajie?Companies comparable to Zhubajie include Whop, Ganji, DealShare, Weidian Group, Ziff Davis and BuySell Technologies.
How many companies has Zhubajie acquired?Zhubajie has acquired 1 company, including UWORKS.
What was the largest acquisition by Zhubajie?The $8M acquisition of UWORKS in September 2017 is the largest acquisition Zhubajie has made to date.
How many companies has Zhubajie invested in?Zhubajie has invested in 4 companies, including 51Shebao, EFUBAO, Qingtuanshe and MYSIPO.COM.
What was Zhubajie's last investment?In June 2016, Zhubajie invested in 51Shebao's $10M Series B alongside CBC Capital.

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