Professional career app Maimai raises US$200 million
Maimai, the Chinese rival of professional social network app LinkedIn, has raised US$200 million — the biggest investment in the professional social career industry worldwide — in a latest round of financing.
The financing was led by DST Global along with other investors such as IDG Capital, Morningside Venture Capital and DCM Ventures.
Boasting 50 million users who are mainly senior executives and white-collar professionals, the Maimai platform helps users "create their own career opportunities,” said Lin Fan, its founder and chief executive officer.
By comparison, LinkedIn said it had more than 41 million users in China by May.
In its previous financing round in November, Maimai received US$75 million. The company said previously it was eying an initial public offering in 2019 that would value it at US$10 billion.
Maimai went online in 2013 and broke even for the first time in 2016, with its revenue coming from advertising and premium customer subscriptions, including corporate users.
