Business Maverick

Business Maverick

Tencent-Backed Alcohol Delivery Firm Said to Seek New Funds

The Jiuxiaoer website. Source: Jiuxiaoer/Bloomberg
By Bloomberg
09 Jul 2021
0

Jiuxiaoer, an alcoholic beverage delivery company in China, is seeking to raise about $200 million in a new funding round that could elevate the startup to unicorn status, people with knowledge of the matter said.

Guangxi Jiaojiu Network Technology Co., the firm behind Jiuxiaoer, could be valued at $1 billion or more after the investment, said the people, who asked not to be identified as the information is private.Jiuxiaoer, which means wine server, is an online and app-based platform that sells and delivers alcoholic drinks, according to its website. Founded in 2014, the company, which is based in Guangxi province, offers beer, wine, liquor and baijiu and boasts it can deliver beverages to the customer’s doorstep in the same city within 25 minutes. Tencent Holdings Ltd. and Sequoia China backed the firm in a Series A funding round in December, according to a statement.

Deliberations for the fundraising are at an early stage and details such as size and timing may change, the people said. The company didn’t immediately respond to requests for comment.

Gallery

Comments - Please in order to comment.

Top Reads This Hour

‘Civil War’ review — an eerily familiar dystopian perspective that captures last of US
Maverick News

‘Civil War’ review — an eerily familiar dystopian perspective that captures last of US
The King Am I — MK’s incendiary manifesto manifests grinding contempt for SA’s democracy and Constitution
South Africa

The King Am I — MK’s incendiary manifesto manifests grinding contempt for SA’s democracy and Constitution
No joy for Springboks and Kolisi at Laureus World Sports Awards
South Africa

No joy for Springboks and Kolisi at Laureus World Sports Awards
Campaigners for Zuma's MK Party make their presence felt during Ramaphosa's KZN walkabout
Maverick News

Campaigners for Zuma's MK Party make their presence felt during Ramaphosa's KZN walkabout
Denel places finance head honchos on precautionary suspension
South Africa

Denel places finance head honchos on precautionary suspension

TOP READS IN SECTION

Bad business has not dented Iqbal Survé’s ‘billions' — or so he says
DM168

Bad business has not dented Iqbal Survé’s ‘billions' — or so he says
Denel places finance head honchos on precautionary suspension
South Africa

Denel places finance head honchos on precautionary suspension
Shimmer of hope — what’s behind another gold rush in South Africa
Business Maverick

Shimmer of hope — what’s behind another gold rush in South Africa
After the Bell — does South Africa need another two banks?
South Africa

After the Bell — does South Africa need another two banks?
Outgoing Nedbank CEO Mike Brown has done a good job of reducing the pile in his successor’s in-tray
DM168

Outgoing Nedbank CEO Mike Brown has done a good job of reducing the pile in his successor’s in-tray

Investigations

News & Analysis

Features

Newsletters

Community

DM168

Daily Maverick © All rights reserved

Please peer review 3 community comments before your comment can be posted

X

This article is free to read.

Sign up for free or sign in to continue reading.

Unlike our competitors, we don’t force you to pay to read the news but we do need your email address to make your experience better.


FAQ | Contact Us

Nearly there! Create a password to finish signing up with us:

Please enter your password or get a sign in link if you’ve forgotten

Open Sesame! Thanks for signing up.

Daily Maverick needs your support

We're not asking you to pay for every article you read. We're asking you to support us so that we can keep doing what South Africa needs us to do. Without the support of our readers, we won't be able to keep going.

If you really can't afford the price of an extra cup of coffee a week, then know this: we will never force you to pay. We'e got your back and one day, you'll have ours.

SUPPORT DAILY MAVERICK
Become a Maverick Insider

We would like our readers to start paying for Daily Maverick...

…but we are not going to force you to. Over 10 million users come to us each month for the news. We have not put it behind a paywall because the truth should not be a luxury.

Instead we ask our readers who can afford to contribute, even a small amount each month, to do so.

If you appreciate it and want to see us keep going then please consider contributing whatever you can.

Support Daily Maverick→
Payment options
Daily Maverick Elections Toolbox

Feeling powerless in politics?

Equip yourself with the tools you need for an informed decision this election. Get the Elections Toolbox with shareable party manifesto guide.