IDG and Bertelsmann Asia unit reportedly looking to up investment in China-based luxury website Secoo next year.
US-based media company International Data Group and Germany-based media company Bertelsmann’s Asian corporate venturing unit are reported to be looking to invest morethan $30m in China-based luxury retailer Secoo.
IDG Capital Partners, a Bertelsmann corporate venturing unit and investment manager Yintai Investments were said to be nearing the investment, by news provider Dow Jones VentureWire. The deal was set to close next year and would be bigger than the B round, VentureWire reported IDG partner Jeacy Yan as saying.
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