A Chinese e-commerce app, Jiemi, announced that it has raised several million USD in series A funding from IDG Ventures.
Founded in 2014, the app is the brainchild of former Alibaba employee Wang Yang. Wang was one of the founding members of its daily deals service, Juhuasuan, but his new venture has more global aspirations. Jiemi allows users to purchase products globally at a discount. These products are photographed and posted by other users – any user who’s interested can start photographing local items on sale and become a seller once they get verified by Jiemi. The idea is that Jiemi will take advantage of the global Chinese diaspora to offer discounted brand-name foreign products to Chinese consumers from Chinese-speaking sellers.