Jumei Announces Strategic Investment in Jiedian
BEIJING, May 04, 2017 (GLOBE NEWSWIRE) -- Jumei International Holding Limited (NYSE:JMEI) ("Jumei" or the "Company"), China's leading online retailer of beauty products, today announced that it had entered into definitive agreements to acquire equity interests in Shenzhen Jiedian Technology Co., Ltd (“Jiedian”) for a total cash consideration of RMB300 million.
Jiedian is one of the leading players in the portable power bank sharing business. It facilitates master power charging boxes in highly frequented points of interest, such as restaurants, bars, gyms, airports, train stations, shopping malls, hair/beauty salons, hospitals and parks. Each power box contains multiple portable power banks, and users can charge their mobile phones on-site or take away a power bank and return it at any other Jiedian site. Users can use Jiedian’s app to locate nearby power boxes where they can rent a portable power bank by scanning a QR code and making mobile payments. Jiedian has deployed its power boxes in over twenty major cities and plans on expanding nationwide.
Mr. Leo Ou Chen, founder and CEO of Jumei, commented, "The sharing economy is rapidly developing as hundreds of millions of Chinese consumers have embraced internet mobility as a way of life, both professionally and socially. Intensive smartphone usage creates a vast market for Jiedian’s innovative services and network. This strategic investment in Jiedian will allow us to further expand our eco system to the forefront of mobile internet business and is an important portion of Jumei’s all-in strategy to ride the new wave of technology innovation."
