51yche.com Receives Strategic Investment from Baidu with Hina as Exclusive Financial Advisor
According to 163.com, 51yche.com, the carpooling software company, announced to finish its C fundraising round of 10 million U.S. dollars. The specific amount of investment has not published. This round of investment was leaded by Baidu, with Sequoia Capital and other institutions followed as the secondary investors. The Hina Group served as the exclusive financial advisor to the transaction.
Previously, 51yche.com got its angel round investment from Lei Jun, who is the chairman of Xiaomi. Then the company obtained A fundraising round leaded by innovative workshops and B fundraising round leaded by Sequoia Capital. 51yche.com became the first domestic carpooling software company with official BAT investment, and the second vehicles industry company that Baidu invested after UBER.
Founded in December 15, 2014 by Internet professional Li Huabing and former Baidu Senior Product Manager Men Xuguang, 51yche.com is reported that, in addition to the capital level of cooperation, it will also have in-depth cooperation with Baidu’s different business sectors.
Li Huabing, CEO of 51yche.com said: "We only spent 3 months for the development of the software until now. Baidu’s investment shows the great recognition for the carpooling market and the management team, which greatly enhance the confidence of the subsequent development of the company. And all of these are just a beginning. "