Amount$400M
Post-money valuation$3B
SeriesSeries D
AnnouncedJun 1, 2018
SectorSocial Media
Sub-sectorRecommendation Engines
RegionChina
Weak
A weak or unusual round versus its peers.
Round size vs peers
Far above the typical Series D round (5.0× the median) — an outlier.
Syndicate size
Single investor — limited external validation.
Insider conviction
All-new money — no prior investors re-upped.
Investor track record
Mostly newer or unproven managers.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.
vs. Series D rounds (1,000)
Round size distribution92th pct
smaller Series D roundslarger
Post-money valuation77th pct
$65Mthis round: $3B$6B
