Jet raised 500 million through a new round of financing to become a new Unicorn

Jet raised 500 million through a new round of financing to become a new Unicorn

Category : dmvxocvr

[Abstract] global estimates of $1 billion Unicorn startups have been, Jet officially joined their ranks.

BI Chinese station on November 25th reported

put the Amazon as the imaginary enemy of the flash sales site Jet days ago through a new round of financing to raise a total of $500 million. The current round of financing Jet valuation reached $1 billion.

since its inception last year, Jet has raised $570 million to raise funds through financing. After it has received $350 million in financing, Jet CEO Mark · rolle (Marc Lore) said in an interview that the company has reached a verbal agreement, soon to refinance $150 million.

In the Jet

before the completion of this round of financing soon, "the Wall Street journal" reported that the Jet is desperately hoping to raise more money, because the company had raised funds have been almost burned. At the end of October this year, Jet bank account with only $63 million in cash.

before the completion of the current round of financing, Jet also adjusted their business model.

at the beginning of the release of Jet services, the company had a bold challenge to the Amazon, through the collection of membership fees, Jet to sell goods to the user price is cheaper than anywhere from 10% to 15%. But in October of this year, Jet suddenly canceled the membership fee of $50, and the company had the membership fee as its only source of profit. Today, Jet has been open to all, but the discount rate has dropped to between 4% to 5%.

rolle said in an interview, despite facing the challenge of financing environment, but still completed the Jet round of financing. "The company’s valuation is just a reaction to the current performance and overall opportunities," said rolle.

early Tuesday, Vc firm KPCB partner Keith · Rabo (Keith Rabois) has been described in the private market early start-up financing are very similar. Rabo said, there is no superior data, in the current market environment financing is almost impossible."

Jet announced the acquisition of financing in the news announcement also said that the company’s total revenue of $33 million 200 thousand in October of this year, by the end of 2015, the total annual commodity trading will reach $500 million. Up to now, the global valuation reached more than 1 billion U.S. dollars or Unicorn startups have been, Jet officially joined their ranks.

announced that it would raise $500 million in funds at the same time, Jet also said that through this February convertible financing conversion to inject $130 million into the current round of financing, which also makes the actual value Jet round of financing of $630 million. Rolle said, "over the past four months is.


Leave a Reply

Recent Comments