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Diamond Birdie Secures Second-round RMB100M Venture Capital
Add Time:2008-11-4
After it received the Serial A investment worth US$5 million from Capital Today, Diamond Birdie recently announced it has secured a collective RMB100 million Series B investment from Ceyuan Ventures and Capital Today.

In 2007, Diamond Birdie's internet sales revenue exceeded RMB100 million, tripling in half a year and generating seven times sales within a year, which brings new investment opportunities for currently low-tuned and cautious venture capital investors.

Head of the Brand Department of Diamond Birdie said that the RMB100 million funding will be used for establishing experience shops nationwide. Currently, it has expanded to the whole country at a speed of opening a shop every two months, and the total number of experience shops is expected to be 12 at the end of this year. In the future two years, Diamond Birdie will have experience shops opened in all Chinese large cities.

Currently, emerging sales channel businesses, represented by Diamond Birdie and 9diamond.com, are accelerating to garner the market that belonged to traditional businesses. Chinese VC funds have found this selling point, thus providing lots of capital for newly founded internet diamond sales businesses. According to Cathy Xu, Founder & President of Capital Today, she made her decision to invest in Diamond Birdie due to its successful duplication of foreign model and experience.

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