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Thursday, Dec 7, 2023

55Haitao Raises $15 Million for Chinese Shopping Guide

Pasadena’s 55Haitao, a Chinese-language online shopping guide, has raised $15 million.

The funds will be used to further expand the site’s shopping guide and produce more localized content.

55Haitao is a forum and shopping guide that refers Chinese shoppers to foreign e-commerce sites, such as Amazon.com, GNC.com and Ashford.com. 55Haitao’s forums host about 20,000 user-generated posts daily and 90 percent of the website’s traffic originates in China, according to the company.

“Global e-retailers receive 5,000 to 10,000 orders every day from 55haitao.com and we generated over $150 million in sales via 55haitao in 2015,” said Chief Executive Alan Gu in a statement.

55Haitao was founded in 2011 and has offices in Shanghai and Chongqing, China, but is based in Pasadena. The series A financing round was led by Beijing’s JJ Capital.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.

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