Steamboat helps $50m Shangpin.com fundraising

Aug 1, 2011 • Toby Lewis

Disney's Steamboat Ventures also backed the company's $10m series B last year.

Disney’s Steamboat Ventures has reportedly invested in a $50m fundraising by Chinese luxury goods company Shangpin.com.

China-based venture capital firm Chengwei Capital was "the major investor" in the latest round which also included China-based venture capital firm Morningside Group and Steamboat, which is affiliated to US-based entertainment business the Walt Disney Company, according to news provider Zero2IPO.

Steamboat and Morningside invested in the company’s $10m series B last year, backing Shangpin.com’s members only model of sales, through which it…

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