Blackfish Technology Completed A+ Round Financing at $50 Million

SHANGHAI,Aug. 22,2018 -- Recently,Blackfish Technology,a leading membership-based consumer service platform in China,announced the completion of A+ round financing at $50 million. New investors engaged in this round of financing are: Lightspeed Venture Partners,Rakuten Ventures,China Growth Capital,and Axpfund.com. A round old shareholders -- Lightspeed China Partners,Morningside Venture Capital,JAFCO Asia,Gobi Partners,Fullshare Holdings Limited andBlackfish Technology's management team continued to invest. The vision of Blackfish Technology is to build a world class membership-based consumer service platform.

The rise of Blackfish Technology has revolutionized the new business logic of Internet consumption. In January 2018,Blackfish Technology raised A round financing at 950 million CNY. It uses the mobile product form to carry the membership-based business model of "e-commerce + travel + service",embodies the demand of "platform connecting users",turns the users into members and fans,and provides its users with a better experience in the convergence of e-commerce functions. Blackfish Technology serves the "Millennial Generation" and "Generation Z",which are the main consumers of global online shopping. Previously,Blackfish Technology was well known in the industry for its brand influence. Nowadays,Blackfish Technology is favored by capital in the strength of its membership-based consumer service. With its rapid speed of development and excellent performance,Blackfish Technology has successfully ranked among the "Quasi-Unicorns" and was selected as the "China's Potential Unicorn Enterprise" to lead the membership-based service platform in China.

ConorYang,co-founder and president of Blackfish Technology,said that the reason for the continuous financing is to speed up the promotion of the membership system,to take the lead in reserving high-quality products and rights,to lay a solid foundation for continuously providing members with "good quality and inexpensive" products and services,and to expand the membership-based consumer service platform and horizontally integrate the services required by members to expand the process of digital content products. The new round of financing will provide strong support for Blackfish Technology to continue leading the field of "Membership-based Consumer Service Platform",and will give constant energy for Blackfish Technology to develop its new products,new members' rights and new technologies. In the future,Blackfish Technology will establish a new consumption system for its members' community,which will have a lot to do with optimizing the distribution of membership privileges and will make the whole process smoother. Blackfish Technology will use the unique member-specific rights to meet the community's demand and accelerate its development to grow into a world class membership-based consumer service platform.

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