B5M Raises $16M in Series B Financing
B5M, a Shanghai, China-based shopping platform, raised $16m in Series B financing.
The round, which brought the total funding raised by the company to $23.1m, was led by ClearVue Partners with participation from existing investor Oak Investment Partners and other new angel investors. In conjunction with the funding, William A. Chen, managing director of CVP, will join B5M’s board of directors.
The company intends to use the funds to accelerate growth in China.
Launched in December 2011 by Yeogirl Yun, CEO, B5M (“help me buy” in Chinese) is a scalable search and data mining technology platform operating across multiple vertical categories with over 300 million shopping products, product comments and merchant reviews, group-buy deals, and social shopping articles. It has three million unique visitors and 50 million page views per day through its website, plugin, PC and mobile applications and sends 30 million Chinese consumers monthly to approximately 6,000 E-commerce sites in its current verticals of products, travel, group-buy, social shopping, discount products, and tickets. The company, which has partnered with premier websites in China, such as Sohu, Kaixin, Yoka, OnlyLady, JingDong, Amazon China, Dangdang, etc., has offices in Beijing and Hangzhou.