Today, SEE announced that it has completed round C+ financing. This comes just two months after it became the only mini program e-commerce platform officially invested by Tencent. At this point, the total amount of round C financing of small electric shop exceeds 50 million US dollars, which is not only the largest financing since the birth of small program, but also one of the largest financing scales in we media industry.
Sequoia Capital led the new round of financing, the mother fund Qianhai Ark Capital, Tencent co-founder Chen Yidan Dan joint venture to join this round of investment. At the same time, IDG Capital, the lead investor of round A, continued to follow up, and the old shareholders BAI and Morningside Capital participated in the investment.
In 2016, SEE started to enter the wechat ecosystem, providing upstream supply chain, logistics and warehousing services to meet the needs of e-commerce realization of we-media. In May 2017, the team launched the small program e-commerce tool “Small Electricity Shop”, and launched different purchase forms such as group purchase and integral purchase with the help of the “wechat Double 11” event. With the help of the social features of the traffic within wechat, we can achieve the needs of obtaining new traffic, improving retention and promoting the transformation of traffic demand.
Wan Xecheng, founder and CEO of SEE, told 36kr that the wechat e-commerce operation model has been established for SEE, and the team will focus on serving more public accounts, accelerating market penetration and building an e-commerce team.
On January 23, 2018, Small Electric Shop received strategic investment from Tencent
Since 2016, SEE has entered into the wechat ecosystem with all in, providing upstream supply chain, logistics and warehousing services to meet the needs of we-media e-commerce.
As January 9, 2017 the birth of small programs, SEE team immediately began to explore and layout the possibility of a small program in the field of electricity, then officially launched in May, on the basis of the small program of electric business platform system “small electric shop”, and the first puts forward the concept of “small program electricity”, become one of the earliest pioneers in the industry.
According to the data provided by the team, since the launch of the small electric shop in June 2017, there have been more than 5,000 we-media public accounts and more than 10 million registered users. At the present stage, the monthly transaction volume of the small electric shop reaches tens of millions, with a monthly increase of more than 60%, and the highest order in a month exceeds one million.
Entering 2018, mini programs are opening up a new battlefield of “social e-commerce”. According to WeChat released the 2017 WeChat data report, public activity is close to 800 million fans, Wan Xu into thought, in the waist of the media will still be SEE small electric shop is the focus of the next layout, in addition to an increase in the number of cooperation, the team will focus on the media services, pay more attention to the process experience, service, efficiency and benefits.
At the end of the supply chain, SEE currently cooperates with about 2,000 brands and selects one or two SKUs for each brand. In order to ensure operational efficiency, the team does not provide customized services for each official account, but through data analysis, the official account can select products based on its own positioning and market trends.
SEE’s customers are mainly middle class people from third-tier and fourth-tier cities, middle income people from first-tier and second-tier cities, and people aged between 18 and 30. The average unit price is around tens of yuan.
After the completion of the C+ round of financing, small electric shop will have more abundant funds to help more We-media to embrace small program e-commerce at zero cost and zero threshold. It is reported that it is expected that at the end of this year, the number of public accounts set up in partnership with small electric shops will expand to about 50,000, and through the “thousands of media thousands of shops” plan to focus on the cultivation of a number of small media electric shops, and strive to make every we media eager for the realization of e-commerce can embrace the dividend brought by the new wave of small program e-commerce.