Chinese online retailer Jumei files for $400 million IPO
Jumei is a Beijing based online retailer that will be going public soon, according to an SEC filing. Jumei offers daily deals on cosmetics and fragrances. Jumei is expected to raise up to $400 million, but the company did not say what exchange it will be listing on. Jumei was founded in 2009 and one of its investors include Sequoia Capital.
Jumei is China’s largest online beauty retailer and holds a 22.1% market share with 10.5 million customers in 2013. The company generated around $483 million in sales for the year.
Several Chinese technology companies are expected to go public this year, including Alibaba, JD.com, and Sina Weibo.