Dingdong Maicai
叮咚买菜
Dingdong Maicai is a Chinese instant grocery e-commerce company founded in May 2017 by Liang Changlin, operating a前置仓 (front-warehouse) model with direct sourcing from agricultural producers and delivery承诺 of as fast as 29 minutes . Gaorong Ventures was its earliest investor, leading the first two rounds exclusively in 2018 and continuing through multiple后续 rounds ; the company also attracted capital from DST Global and SoftBank Vision Fund, among others .
By early 2020, Dingdong had expanded to six cities with nearly 550 front warehouses and daily orders exceeding 500,000, with monthly revenue reaching 700 million yuan . It listed on the NYSE in June 2021 under ticker "DDL," by which point it covered 29 cities with 950 front warehouses and had grown its GMV from 742 million yuan in 2018 to 13 billion yuan in 2020—a 319.2% compound annual growth rate that made it China's fastest-growing instant e-commerce platform by灼识咨询's measure .
Liang Changlin has emphasized a contrarian strategy centered on repurchase rate rather than traffic acquisition, operational efficiency, and what he terms "doing the hard and unsexy things" in supply chain infrastructure .
AI-generated — may contain errors, please verify.
Coverage
Exclusive | Actually, DST Bought Xiaohongshu Secondary Shares
Mega funds still making deals.
A Globalization Guide for Chinese Founders: Slicing the World Horizontally
The word "globalization" — so brief, yet it encompasses so many narratives.
Medical Device/Chip Companies Close New Funding Rounds, Driving High-Quality Growth Through R&D, Commercialization, and Supply Chain | Rong Report · February
Infinite possibilities for creating a better life.
BOSS Zhipin Completes Dual Primary Listing, Baijiayun Debuts on Nasdaq, Gaorong Ventures Earns Multiple Accolades | Gaorong Monthly · December
Racing Into 2023
Consumer/Medical Companies Launch New Products, Advanced Tech Market Share and Capacity Advance Further | Rongbao · November
Explore industry demand, and build solid R&D capabilities.
Robotics, SaaS, and innovative drug sectors close new funding rounds; chips and medical devices unveil major new products | Rongbao · August
Differentiated innovation and global opportunities.
Multiple cutting-edge technologies lead globally — 3D interaction, LiDAR, chips, and medical innovation continue apace | Rongbao · March
Keep learning and evolving through the long cycle of sustained innovation.
Gaorong Monthly · October | Gaorong Ventures Named Among Zero2IPO's Top 10 VC Firms of the Year; Nuro Closes Major Series D Round
Autonomous driving, healthcare, and chip sectors see new funding rounds; Genki Forest unveils "Triple Zero Factory" strategy; Dingdong Maicai stabilizes prices and ensures supply.
Rongbao · July | Multiple Companies Close New Funding Rounds, Take the Lead in Their Sectors; Pinduoduo's Olympic Season Boosts Sports Consumption for All
Continue to invest in innovative companies in new consumer brands, new technologies, healthcare, and other sectors.
Rongbao · June | BOSS Zhipin and Dingdong Maicai successfully go public; medical, industrial upgrade, and chip companies close new funding rounds
Xingji, Dongjing Yiwan, Qitan Technology, and other companies have completed new funding rounds.
Congratulations to Dingdong Maicai on its successful NYSE listing! | Gaorong Ventures News
Make fresh, quality ingredients as accessible as running water — within everyone's reach, for the benefit of all.
Rongbao · May | Pinduoduo Enters the Era of 800 Million Users, Waterdrop Inc. Debuts on the NYSE
Meeting the needs of China's vast user base for a better life.
12 New Trends and 12 New Growth Models in Global B2B for 2021 | Ronghui B2B Growth Camp
A look at the latest trends in the post-pandemic B2B market, and the growth strategies behind high-growth B2B companies overseas.
Dingdong Maicai Completes $1.03 Billion in Series D and D+ Funding Rounds
Make good ingredients as accessible as tap water — within everyone's reach, for the benefit of all.
Rongbao · April | Solid-state LiDAR leader Innoviz goes public; Genki Forest and Dingdong Maicai close new funding rounds
Major Events in April
5Y News | Buddy Leads the No-Code Digital Transformation Market with $17 Million Series B Round
A no-code app builder and data collaboration platform.
Genki Forest Completes New Strategic Funding Round, Charts Four Paths to Build "Genki Forest of the World"
Build out the full value chain to integrate R&D, manufacturing, and sales, and capture the opportunities created by the rise of China's new generation of young consumers.
Rongbao · February | Pinduoduo Awarded "National Advanced Collective in Poverty Alleviation," Chip and Medical Companies Complete New Funding Rounds
Pinduoduo contributes to poverty alleviation; XinYaohui, Fubei Biotech, and Westlake Omics close new funding rounds.
Rongbao · January | E-commerce and Retail Players Build Out Origin-Region Supply Chains; Multiple Chip, AI, and Enterprise Service Firms Close New Funding Rounds
Discover and accompany creators of a beautiful life.
5Y View | Xiaoxiao Zhou, 5Y Capital: The Underlying Logic of Business Is Supply and Demand
Companies that can truly close the loop on supply-demand dynamics are the ones that change the world — but they are few and far between.
Gaorong Bulletin · December | Multiple Gaorong Ventures Portfolio Companies Secure New Funding in Chips, Robotics, AI Drug Discovery, New Brands, and Other Sectors
Stepping into 2021.
Warm congratulations to Yatsen Holding, parent company of Perfect Diary, on its successful NYSE listing | Gaorong Ventures News
It became the first U.S.-listed Chinese beauty stock, with Gaorong Ventures leading its early round and standing by it ever since.
Chen Yaochang: World Factory + Social Media + Talent — More and More Global Brands Will Emerge from China | Ronghui
Over the next five years, we're bound to see more and more international consumer brands emerging from China.
Gaorong Ventures Completes Fundraise Exceeding 10 Billion RMB, Partnering with Founders to Create Long-Term Value
Continue to focus on investments in new consumer, new technology, enterprise services, healthcare technology, and other sectors.
Rui Han of Gaorong Ventures Decodes the Battleground for Future Consumer Giants: Transferable Trust Is What Makes a Brand
Above category, the first way to classify tomorrow's consumer giants is by "scenario and function."
Gaorong Bulletin · April | Gaorong Ventures Actively Responds to "Zhongguancun Venture Capital Anti-Epidemic Investment Initiative," Joins First Batch of China Equity Investment Fund Managers' Creditworthy Red List
"We are firmly bullish on China, and we believe that steadfastly investing in technology and innovation-driven industries represents the greatest opportunity looking ahead."
Rongbao · March | Pinduoduo GMV Reaches New "Trillion" Milestone, YITU Sets New World Record in Person Re-identification Algorithm
New consumption and new technology companies are innovating supply models and strengthening technological support to contribute to the country's new infrastructure development.
Richard Liu: As the Pandemic Enters Its Global Second Half, How Can Chinese Startups Seize Antifragile Growth Opportunities
Ten Growth Tips for Founders
Beijing News Interview with Chang Chen: Bullish on China's Consumer Market, Demand Recovery Will Drive Supply-Side Evolution
Long-term bullish on the massive investment opportunities in China's new consumer market.
Jiang Nanchun: Crisis Is Opportunity, Right and Wrong Determine Success or Failure, Differentiation Is Evolution | Ronghui
Don't think short-term; take a long-term view. Focus on right and wrong, not gains and losses.
How to Make Decisions, Rally People, and See the Future Amid a Pandemic? | Rongwen
We invited ten CEOs to answer.
Great Crises Breed Great Opportunities? Lessons from SARS and the Financial Crisis | Gaorong Ventures Share
Spring always comes, and the view next spring will surely be different from years past.
The New Era of "Good Companies" After the Pandemic | Frees Fund
Industry Outlook for 2020 Amid the Pandemic
Battle Against the Epidemic: Gaorong Ventures Portfolio Companies Continue Their Efforts to Support COVID-19 Response | Rongbao · January
What matters most is action.
Liu Xinhua: How to Crack the Growth Code for Products in the Second Half of the Internet Era | Gaorong Ventures Share
A 10,000-word transcript systematically breaking down the four modules of the growth model — clarifying principles, seizing momentum, refining tactics, and reading people.
Dingdong Maicai's Liang Changlin: We Oppose Gimmicks and Tricks, We Do the Hard and Unsexy Things | Gaorong Ventures Share
Dingdong Maicai's Four Non-Consensus Beliefs: Retention Is King, Efficiency Is Life, Exponential Thinking, and the Seed Theory.
Rui Han of Gaorong Ventures Named to "36 Under 36" Outstanding Investors List: You Have to See It, and You Have to Dare to Believe It
"VC is Vision plus Conviction."
Rongbao · July | Beibei Group Launches New Business Beicang, "Ronghui" Discusses Public Affairs Strategy...
Creating better life through innovation.
Yiu-Cheung Chan: The Future of Retail
Do traditional retailers need digital transformation? How are technology drivers reshaping the retail industry? And how can companies win in the fiercely competitive fresh grocery and online fresh produce markets?
A Visual Breakdown of Gaorong Ventures' Retail Investment Model: Why It Keeps Doubling Down on the Fresh Grocery Sector
What kind of business model can better carry consumers' channel trust? And push closer to the endgame of retail?
