SHANGHAI, CHINA, B5M, a Chinese shopping search site, has announced a $16 million Series B investment round.
A Chinese shopping portal has announced $16 million in Series B funding, and hopes to accelerate its growth in the world's biggest E-commerce market.
B5M (named for the Chinese words for 'help me buy') compiles E-commerce search results like American site Kayak does for travel sites. The company raised its funding round from ClearVue Partners, existing investor Oak Investment Partners, and several new angel investors. ClearVue managing director William Chen also joined B5M's board of directors, saying the site was poised to become the biggest online shopping search portal in India.
B5M, launched in 2011, has over 300 million searchable shopping products, comments, and reviews. The site has three million unique visitors and 50 million page views a day, and sends 30 million Chinese consumers monthly to approximately 6,000 E-commerce sites.
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