6/10 TBC Insider Digest
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Insider Digest 6/10/21: DingDong & MissFresh IPOs, Jushuitan & Kujiale, 2 SaaS Near IPOs to Watch
Housekeeping: Thanks for those of you who joined our Insider chat with Ray of Blue Lake Capital! I think in the future, we will be making these Insider only. We have quite a few coming up that I think you would enjoy, including 3 pre IPO company CEOs.
As you know, Freya Zhang joined us recently as our Marketing & Community Manager. She’ll be reaching out to all of you shortly and trying to get to know you better so we can facilitate more connections in between members of the group, as some of you have requested. That’s actually always been the vision but very hard to pull off with just myself! Now that Freya has joined that’s what we’ll be working on :)
As always, join us Friday 6/12 6-6:45 AM PST / 9-9:45PM Asia time for our weekly chat on Zoom! We’re working on refining this as well and welcome your suggestions as to format!
For those who are new, feel free to join our WhatsApp group if you want real time communications with the rest of the community! It’s pretty low volume and always on topic!
Since the Xiaohongshu IPO has been rumored forever, I'd love to hear opinions from the group on the company, for once, before the prospectus drops. It's a company that has a lot of traffic and buzz, but seems to really struggle to find a monetization model. Per LatePost, the company did not fulfill its GMV targets for either 2018 or 2019. Its original thesis of community-powered (traditional) ecommerce is largely acknowledged to have failed.
Jushuitan E-Commerce SaaS ERP (Series C)
In preparation for the call with Ray, I looked into his portfolio (BTW, 10 of them are supposedly near $100mm revenue, so, there’s going to be a lot of IPOs from this group). Jushuitan is one of them. It is ecommerce ERP SaaS software. Click through for more on the company, who most recently raised $100mm from Goldman (and Blue Lake).
6/8/21 Dingdong Maicai & MissFresh Twin e-Grocery Filings
Gabriel explained on WhatsApp that twin filings happen quite often as no surprise to anyone, each Chinese company wants to be the first to market so as to dictate the way investors see the sector … well in this case, these two companies really needed to file, or do something, since they are both losing money quite quickly and don’t really have that much cash on hand.
I summarize the basic stats for you but it’s clear that Dingdong is trying to position itself as a future on-demand platform, while MissFresh is going an entirely different direction trying to stuff a story of “Retail AI Cloud” into the company. I am not convinced. There’s a lot of links to previous posts in this one.
Kujiale (AKA Coohom) the Near IPO Home Decor SaaS Software Company
The Didi prospectus came out too late for the digest this week so I had already written this long post on another SaaS unicorn rumoring to go public. Those of you living in China are probably familiar with this name. Those who are not, this is SaaS 3D home decor and furnishing rendering. It’s a big business, exceeding $100mm last year, and an IPO is in the works. The secret sauce is cloud 3D rendering software that is photorealistic that only takes 10 seconds (take a look at the below, which one is the drawing and which one is the real room?). I tried the software myself, it really does work as described … read on for more.
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Kevin G is looking for expertise from folks familiar with ad networks, please message him directly in the Circle community or on WhatsApp
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