Babytree, a Beijing, China-based online parenting services platform, received a strategic investment from Alibaba.
The deal values the company at RMB 14 Billion (approximately $2.19 Billion).
Founded in 2007 by Allen H. Wang, CEO, Babytree provides an online platform targeting young families, offering maternal and child-rearing tools, e-commerce, and C2M products and services, as well as healthcare services.
Prior to receiving strategic investments from Alibaba, Babytree has already obtained supports from China’s strategic players such as Fosun (Chinese international investment company) and TAL (leading K12 tutorial service provider).
Following the deal, Babytree and Alibaba will carry out extensive co-operation in the areas of e-commerce, C2M services (customer-to-maker), advertising sales, paid expert knowledge, new on-line and off-line retail, and other related maternal & child businesses.