Industry Information

Does Alibaba Acquire Wandoujia with US

2016-07-02 18:19

Accordingto, on July 2, Alibaba acquires Wandoujiawith US$200M. The acquisition was led by Yu Yongfu, in bid to bolster UC’s weakpoint in mobile distribution. After the acquisition, Wandoujia will beincorporated into Alibaba and has to report toYuYongfu. At present,Alibaba has no comment on this acquisition and Wang Junyu, Founder of Wandoujia,also indicated on July 2 that he has never heard of it.
According to the data from NewSeed, Wandoujia,founded in 2009, has closed three rounds of fundraising. In December 2009,Wandoujia acquired millions of US dollars of angel investment from InnovationWorks; in January 2011, Wandoujia received millions of US dollars of round A investmentfrom DCM China; in January 2014, Wandoujia secured US$120M of round B investmentfrom SBCVC, DCM China and Innovation Works; in March 2014, it garnered millionsof US dollars of round B investment from Goldman Sachs too.