Yum China buys Chinese food delivery company
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Yum China is betting that more consumers will continue to order Pizza Hut and KFC food via their smartphones for speedy delivery to their homes and work.
Yum China Holdings Inc is buying a controlling interest in online food delivery company Daojia.com.cn for an undisclosed sum.
Founded in 2010, Daojia.com.cn is an online food delivery service provider focused on higher-end orders in major cities in China, including Beijing, Shanghai, Shenzhen and Guangzhou. It also operates food delivery service Sherpa’s, and has partnered with over 6,000 brands and restaurants, providing services for over one million family customers.
China Money Network reports that Daojia.com.cn previously raised a US$2 million series A round from Morningside Venture Capital in 2010. It secured a US$7.5 million series B round from CDH Investments in 2011, and completed a US$10 million series C round led by JD.com Inc and Morningside in 2013.
In 2014, the company received a US$50 million series D round led by JD.com and Macquarie Group, according to its website.
Questions & Answers
Q.What kind of customers does Daojia.com.cn typically serve?
What kind of customers does Daojia.com.cn typically serve?
Daojia.com.cn focuses on higher-end orders in major Chinese cities. It serves over one million family customers, delivering food from partner brands and restaurants to their homes and workplaces.
Q.Which other food delivery service does Daojia.com.cn operate?
Which other food delivery service does Daojia.com.cn operate?
Besides its main service, Daojia.com.cn also operates Sherpa’s. This expands its reach within the online food delivery market, servicing a broad base of over one million family customers.
Q.Which investors have previously funded Daojia.com.cn?
Which investors have previously funded Daojia.com.cn?
Daojia.com.cn previously received funding from Morningside Venture Capital, CDH Investments, JD.com Inc, and Macquarie Group. These rounds included a US$50 million series D led by JD.com and Macquarie Group.
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