Chinese Pinterest Clone Mogujie Raising C Round at Estimated $200 Million Valuation

Mogujie, China’s Pinterest + ecommerce referral startup, is reportedly raising series C funding at a projected $200 million valuation. According to TechWeb, the investor who is leading the round is most likely IDG.

This past April, we reported that Mogujie is driving crazy traffic to Taobao, China’s top C2C shopping site. At that time we noted Mogujie had more than 2.2 million daily visitors each month who browse more than 750,000 items on Taobao. Out of that figure, 60,000 items were purchased each day. These numbers were pretty insane, as it was acting as an impressive sales referral machine, earning about $15,900 on ad referral clicks to Taobao at that time.

Now with about four months passed from those self-reported figures, I believe the number should be far greater. Mogujie’s founder and CEO, Chen Ji, posted on Zhihu where he explained more about his model for success:

The main content is the product, and it’s inevitably fragmented, and the debris is isomorphic. Like Twitter, where the whole thing is composed of 140 characters, or Sina Weibo where it’s 140 characters plus a photo, or Pinterest’s fragments of ‘beautiful artifacts’ photos plus a short description plus a URL. And on Mogujie it’s a case of ‘items for a beautiful woman’ plus a photo and a description plus an e-commerce destination.

Source: Techweb