Taishan Invest
Taishan Invest AG realizes a partial exit in Lashou.com – China’s leading GroupBuying website
Taishan Invest / Key word(s): Strategic Company Decision/Miscellaneous Taishan Invest AG realizes a partial exit in Lashou.com – China's leading GroupBuying website Beijing/Zurich, 20th December 2010 – After Lashou.com announced its successful round of financing last week, Taishan Invest AG announced today that it realized a partial exit and the return reached a three digit multiple in less than a year. Taishan Invest AG, founded in 2008, has established a remarkable track-record in China's Angel Investment Industry. It has also proven for the first time that a Business Angel Fund in China is able to hit high returns on investments. 'Taishan was not only Lashou's first investor but a very strong partner. Taishan brought in strong strategic resources that helped to accelerate Lashou's incredible growth and made it stand out from its competitors being the clear No.1 GroupBuying website in China now', said Wu Bo, Founder and CEO of Lashou.com. Taishan Invest AG invested into Lashou.com in early 2010 and brought in Rebate Networks, founder of Europe's second largest GroupBuying website, Chinese Founders Fund and GSR Ventures in the following months. Today, Lashou.com is ranking No.1 among several hundreds of Chinese 'Groupon' model websites, has covered more than 100 cities in China and is far ahead of its competitors in terms of revenue, traffic, user stickiness and scale. 'The market, the team, the business model – it is a perfect match and we believe in the future growth of Lashou.com, which is why we only sold a small portion of equity. We will actively support the company for its next steps', stated Raymond Lei Yang, Founding Partner of Taishan Invest AG. Beside Lashou.com, Taishan is invested in VIPStore.com, the leading Private Sales Club in China, USHI.cn, China's leading business social network and Urbanara.com, a B2C platform connecting the manufactures directly with its end customers. In 2010, Taishan Invest AG also realized a successful exit in Avandeo.de, which sells design furniture at highly competitive prices over the internet. 'Yes, China is a really challenging market, but also a market with huge opportunities. Taishan has established a great platform for early and growth stage investments in China and will continue to actively invest in 2011', said Sebastian Kuebler, Founding Partner of Taishan Invest AG. About Taishan Invest AG (www.taishanangel.com) is the first Business Angel Fund in China and invests into high growth 'early stage' startups as well as special opportunities. It was jointly founded in 2008 by top class serial entrepreneurs from China and Europe and is managed by Raymond Lei Yang and Sebastian Kuebler. Further partners and investors include Mountain Partners Group, Ringier AG, Chinese Founders Fund as well as several Family Offices with interest in China. Contact: Sebastian Kuebler, Founding Partner Taishan Invest AG, sebastian.kubler@taishanangel.com End of financial news 20.12.2010 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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