Chinese Cashback Site Wins $10m Investment
Domestic online cashback shopping site 51fanli.com has received first-round financing worth around $10 million from venture capital firsm Qiming Ventures and Steamboat Ventures, qq.com reported July 26. The funding will be directed towards recruitment and market development, the report said.
The site was founded in late 2006 and currently has 400 e-commerce site partners, serving more than 2.5 million users, according to the report.
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