Yunwang Wandian
Funding History
| Series A · 11/2020 | $912M |
|---|
About
The company's platform blends self-operated e-commerce with a retail-cloud franchise model, in which Suning licenses its supply chain, warehousing, delivery and point-of-sale systems to independently owned stores operating under the Suning brand in China's smaller cities and towns. In the fourth quarter of 2020, gross merchandise volume across the platform grew 33.67% year-over-year, with self-operated goods sales up 45.28%.
- founded
- 2020
- totalFundingRaised
- $912M
- suningOwnershipStake
- 70%
Overview
Yunwang Wandian Technology Co., Ltd. (云网万店) is the e-commerce and retail-cloud services business that Chinese consumer electronics and appliance retailer Suning.com spun off into a standalone entity on November 11, 2020. The unit runs online-to-offline transaction services for consumers and merchants and supplies retail-cloud tools — supply chain, logistics, after-sales and store-operations support — to Suning's network of franchised and affiliated retail outlets across China.
Suning raised RMB 6 billion (about $912 million) for the newly formed unit within weeks of its founding, in a Series A round led by state-backed venture firm Shenzhen Capital Group, with Suning retaining roughly 70% ownership. Suning subsequently said it was exploring an independent stock listing for the business, though no listing has been confirmed as of this writing.
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