Feb 29, 2016

JJ Capital leads $1.5m Series A in Chinese shopping guide 55Haitao 0 chalida@dealstreetasia.com February 29, 2016: &nbsp Beijing-based JJ Capital has led a $1.5-million Series A financing round in China’s cross-border shopping guide 55Haitao.com . “The additional capital will continue to fuel our growing editorial content initiatives for 55Haitao,” Rick Parada, managing director of 55haitao, said in the statement. A portion of the capital will also allow the site to expand operations in Linkhaitao.com , a sub-affiliate network that allows US companies and global e-tailers expand further into China with localised content. Since its launch in 2011, 55Haitao has created and published Chinese deal content on their blog feed and in the forum where more than 20,000 user-generated posts are created daily. With 90% of its traffic originating from China, 55Haitao helps retailers worldwide reach the Chinese audience easily. Currently, more than 3,500 global e-retailers including Amazon, Drugstore , GNC and Ashford have partnered with 55Haitao to provide content tailored to Chinese consumers. “Global e-retailers receive 5,000 to 10,000 orders every day from 55haitao.com and we generated over $150 million in sales via 55haitao in 2015,” Alan Gu, 55haitao.com’s founder and CEO, said. 55Haitao is based in Pasadena, California with offices in Shanghai and Chongqing, China. Also read: