Baby Goods Marketplace Mia.com to Suspend operation
Image Source: Visual China
Beijing, July 8 (TMTPOST) – Chinese baby goods online marketplace Mia.com announced that it will suspend the operation of its mobile application on September 10 and remove the application from application stores.
Mia.com is a Sequoia-backed mother and baby product e-commerce platform once valued at over 10 billion yuan (US$1.5 billion).
The e-commerce platform said in the announcement that orders on its platforms made before the suspension of Mia.com’s mobile application will continue to be processed and will be completed. After Mia.com suspends the operation of its mobile application, it will delete user accounts and user information. The platform will also stop collecting information and data on consumers and vendors on its platform.
Mia.com’s mobile application is no longer accessible on Apple’s App Store now. Users could still find the mobile application on some Android app stores. However, none of them are available for download.
The company decided to shut down the mobile application because of “changes in users’ shopping habits,” according to a statement. However, Mia.com’s mini-app on the Chinese social media application WeChat will remain active, the company said.
Mia.com was established by Liu Nan in 2011. It started as a vendor on the Chinese e-commerce platform Taobao and became popular for its bestselling diapers. It took Mia.com only two years to become a major vendor on Taobao.
In February 2014, Mia.com created its own website and left Taobao, officially transitioning itself to an e-commerce marketplace.
Between 2014 and 2016, Mia.com received five rounds of financing, raising around two billion yuan in total. Investors include ZhenFund, Sequoia Capital China, K2VC and Baidu, etc. In 2015, Mia.com completed its series D round financing at US$150 million, raising money from H Capital, Sequoia Capital China and Baidu. However, Mia.com has not been able to raise fund in the past few years. The company completed its Series E round financing in October 2016 and has not disclosed any further financing information since then.
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