December 16 news, although Vancl has been questioned about its capital recently, a source in the capital circle revealed that Vancl still had $2 billion cash on its financial statements. In the F round financing completed five months ago, Vancl was valued at as high as $3.2 billion after raising $230 million.
Early this month, Vancl completed its F round financing of $230 million. Investors included CITIC Private Equity Funds Management Co., Ltd., Temasek, IDGVC and Kerry Group. Last week, Chen Nian, CEO of Vancl confirmed that the funds for this round of financing had all arrived. However, he did not disclose the details of the financing.
Recently, due to the worsening capital environment, Vancl, which was originally scheduled to go public in the fourth quarter, had to delay its IPO. There were rumors that Vancl's investors had differences over the timing and valuation of the IPO. Most opinions suggested that Vancl should reconsider going public after the Spring Festival.
Accompanying the postponement of the IPO was the internal data leak of Vancl. A netizen who claimed to be an "old employee of Vancl" disclosed that Vancl had accumulated losses of 2 billion yuan, and claimed that there was a large amount of inventory backlog and it was facing capital difficulties. In this situation, Chen Nian, who had maintained a low profile for nearly a year, began to appear frequently in public and gave speeches to counter these claims.
Chen Nian said in a speech that e-commerce was the most down-to-earth model among all Internet models. Now questioning the e-commerce model was an insult to those who had worked in the e-commerce industry for ten years. And a good B2C company would not be knocked down by rumors.
However, he never mentioned anything related to capital or the IPO. The official side of Vancl also did not comment on this matter.
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