A Solid Finish to 2018, Continued Patient Growth in 2019 | Code Meet Journal · December
Four years since Source Code Capital's founding, the many companies in its portfolio have grown into a thriving forest, and the "Ma Hui" has become a platform for its LPs, partners, and entrepreneurs to connect. *Ma Hui Journal* is here to record the small steps forward of these partners, share in the joy of their growth, and look toward an even brighter future.
To
Our
Readers
Four years since Source Code Capital's founding, the many member companies of the Source Code family have grown into a thriving forest, and Code Brain has become a platform for our LPs, partners, and founders to connect. Code Brain Journal is here to record our friends' progress, share in their growth, and look forward to an even brighter future.
Code Brain Journal — December
Contents
"Funding"
MOGU (NYSE: MOGU)
IPO on the New York Stock Exchange
YiCan
Announces millions of USD in angel funding from Source Code Capital
Abbotz
Announces completion of $30 million Series B
"Growth"
ByteDance
Reaches global partnership with NBA
Knowbox
Releases "Xiaohe Classroom," "SnapHomework," and "Home-School Box"
Edianzu
Expands to Guangzhou and Chengdu, building 4-hour IT support coverage for local enterprises
Pagoda
Double 12 sales exceed RMB 80 million; member orders surpass 1 million
"Quotes"
Liu Ye: Using technology to make quality education accessible and equitable in China
Yang Yongzhi: Smart investment research has broad prospects
He Fan: Creating value stems from hope for a better life
"Awards"
Asset360, Hai Feng Education, Xinchao Media,
Pagoda, Cijinrong, Huizhaofang, WeiMai, Nongfenqi
Named to Cyzone 2018
"China Enterprise Service Innovation Growth 50"
"China Innovation Growth 100"
Yijiupi, Baibu, Ruigu, Zhangshangkuaixiao,
Zhangshang Fucai, YQN Logistics, Zhaomei.com
Named to "2018 China Industrial Internet Unicorn Enterprises"
"2018 China B2B Top 100 Enterprises"
Pagoda, Edianzu, Baibu
Named to Chuangyehuoma
"2018 China New Consumption Industry Unicorn"
"2018 China Enterprise Service Industry Hard Unicorn"
WeiMai
Named to "2018 Future Healthcare Top 100"
Cijinrong
Named "Best Pan-Supply Chain Finance Institution" at China Financial Innovation Awards
Walnut Coding
Wins three major education industry awards from Tencent, Baidu, and SINA
Funding
MOGU (NYSE: MOGU)
IPO on the NYSE
On December 6, Eastern Time, Source Code Capital portfolio company MOGU (NYSE: MOGU), a leading fashion and lifestyle destination, listed on the New York Stock Exchange, marking the official arrival of the first Chinese tech-fashion stock.
Beyond fashion content and e-commerce, MOGU is also a technology-driven company. As of September 30, 2018, MOGU had built a technical team of approximately 500 engineers dedicated to technology development and algorithm design. MOGU applies artificial intelligence and big data technologies to the fashion sector, helping users better understand and analyze fashion trends, thereby providing more professional fashion services.
YiCan
Announces millions of USD in angel funding from Source Code Capital
One-stop equity services provider YiCan announced the completion of a multi-million USD angel round, with exclusive investment from Source Code Capital. Founded in December 2017, YiCan is an equity services provider for the primary market, pioneering an entirely new track in the equity industry. From start-up to pre-IPO stages and across all aspects of equity services, it provides startups with standardized, one-stop solutions combining consulting-first approaches with SaaS delivery.
As a board member, She Yangjie of Source Code Capital stated that equity incentives are an important means of motivating employees, and as enterprise management becomes increasingly standardized, they will inevitably become essential in enterprise services. Starting from equity structure design, equity incentives, and equity management, and paired with professional consulting services, YiCan manages the full lifecycle of enterprise equity, meeting client needs with high quality and efficiency. At the same time, the team's combined backgrounds in internet products, law, entrepreneurship training, and financial advisory will help them serve enterprises comprehensively. We believe YiCan will become a leader in enterprise equity services.
Abbotz
Announces completion of $30 million Series B
Source Code Capital portfolio company and AI startup Abbotz announced the completion of a $30 million Series B round, with Mindworks Ventures, SIG Asia Investments, and Qiming Venture Partners as investors. Founder and CEO Yang Yongzhi stated that this round of funding will primarily be used for talent recruitment and further improving technical solutions to provide more valuable products for finance professionals.
Abbotz was founded in July 2016 and began exploring AI applications in the financial industry in March 2017, providing product services for investors. Prior to this round, Abbotz announced a total of $30 million in angel and Series A funding in late August 2017, with Source Code Capital, Qiming Venture Partners, SIG Asia Investments, and Microlight Venture Capital as primary investors.
Growth
ByteDance
Reaches global partnership with NBA
The NBA and ByteDance jointly announced a long-term global partnership. Effective immediately, NBA short-form video content will be available to massive global audiences through ByteDance's mobile platforms.
According to the announcement, the two parties will jointly produce NBA daily game highlights, behind-the-scenes footage, images, and news, covering the NBA regular season, All-Star Weekend, playoffs, and finals. ByteDance will use intelligent recommendation technology to precisely deliver NBA content to users of Toutiao, Xigua Video, and Douyin.
Overseas, fans can watch NBA highlight videos on the short-form video platform TikTok. Fans in the United States, Brazil, India, Indonesia, Japan, and South Korea will also be able to enjoy localized content presented in their native languages.
Knowbox
Releases three new products: "Xiaohe Classroom," "SnapHomework," and "Home-School Box"
On December 5, at Knowbox's "Box But Different" winter product launch, the company released three new products: the full-AI course product "Xiaohe Classroom"; the photo-based homework grading product "SnapHomework"; and the home-school communication product "Home-School Box."
Knowbox founder and CEO Liu Ye stated that going forward, Knowbox will continue to focus on public school business as its main arena, leveraging AIOC (AI-Oriented-Content, content built for adaptive learning scenarios) to achieve organic connection between "scenario-based traffic from public school teaching tools" and "service monetization from supplementary education scenarios."
Edianzu
Expands to Guangzhou and Chengdu, building 4-hour IT support coverage for local enterprises
On December 15 and 18, Edianzu, a national leader in office computer leasing and management, announced the official launch of its Guangzhou and Chengdu branches respectively, adding new momentum to asset-light operations for enterprises in both cities. As an innovative platform empowering enterprises with effortless office operations, Edianzu's entry into Guangzhou and Chengdu will bring more worry-free, exceptional office experiences to enterprise clients in both cities.
Pagoda
Double 12 sales exceed RMB 80 million; member orders surpass 1 million
On December 13, Pagoda announced its 2018 Double 12 results. Data showed that on Double 12, Pagoda's sales exceeded RMB 80 million, with the highest single-store sales surpassing RMB 70,000. According to Koubei Double 12 statistics, this marked Pagoda's second consecutive year as the top performer in its category during Koubei Double 12. Pagoda member consumption was particularly impressive.
This Double 12, Pagoda's member consumption orders exceeded 1 million, ranking first across all industries on Koubei Double 12 by order volume. Among the highlights: 2.5 metric tons of imported cherries sold in 30 minutes, and over 300,000 kiwifruits sold in a single day.
Quotes
Liu Ye, Founder & CEO, Knowbox:
Using technology to make quality education accessible and equitable in China
In September of this year, Knowbox launched its AI course product. AI teachers can not only detect homework process data, understanding students' overall mastery, engagement, and retention levels, but can also use this to build student knowledge graphs and learning path plans. The educational equity brought by AI actually transcends wealth disparity. AI truly transforms teaching supply into software — the same way films are distributed. Wherever the internet reaches, AI can reach. Let AI assist human teachers in instruction, and let education in China become accessible and equitable through technology.
Yang Yongzhi, Founder & CEO, Abbotz:
Smart investment research has broad prospects
The application of smart investment research in asset management has broad prospects from technical, policy support, and market perspectives. From the current state, AI applications in asset management have not yet reached full machine automation. It is more a process from simple to complex, from predetermined programs to self-learning, and from low accuracy to high precision.
He Fan, Founder & CEO, Huishoubao:
Creating value stems from hope for a better life
Through phone recycling, we don't just solve urban, social, and environmental problems — we also continuously help left-behind children access better education. We convert recycled phones into learning devices, partner with internet companies to digitize educational content, and install it for free on phones donated to schools and children. We hope they can learn more knowledge, see the outside world, gain a more hopeful future, and change their current circumstances where it's hard to see any future. We hope more people will participate in phone recycling and electronics recycling.
Awards
Asset360, Hai Feng Education, Xinchao Media, Pagoda, Cijinrong, Huizhaofang, WeiMai, Nongfenqi**
Named to Cyzone "China Innovation Growth 100"
On December 5-6, the "Cyzone 100 Future Leaders Summit & Cyzone Annual Conference" was held in Beijing, with multiple Source Code Capital portfolio companies named to the "2018 China Innovation Growth 100." Asset360 stood out in the evaluation of innovation capability, management team, growth potential, and development capability with its forward-looking operational model, efficient management methods, and quality enterprise services, earning a place on Cyzone's 2018 "China Enterprise Service Innovation Growth 50." Cyzone has published the "China Innovation Growth 100" list for ten consecutive years, with Source Code Capital portfolio companies Hai Feng Education, Xinchao Media, Pagoda, Cijinrong, Huizhaofang, WeiMai, and Nongfenqi making the "China Innovation Growth 100."
Yijiupi, Baibu, Ruigu, Zhangshangkuaixiao, Zhangshang Fucai, YQN Logistics, Zhaomei.com
Named to "2018 China Industrial Internet Unicorn Enterprise List" and "2018 China B2B Top 100 Enterprises"
On December 21, the 5th China Industrial Internet Conference & Ningbo Industrial Development Forum was held in Ningbo. The conference unveiled the "2018 China B2B Top 100 Enterprises" and "2018 China Industrial Internet Unicorn Enterprises" lists. Source Code Capital portfolio company Yijiupi was named to the "2018 China Industrial Internet Unicorn Enterprises" list, while Baibu, Ruigu, Zhangshangkuaixiao, Zhangshang Fucai, YQN Logistics, and Zhaomei.com made the "2018 China B2B Top 100 Enterprises."
Pagoda, Edianzu, Baibu
Named to Chuangyehuoma "2018 China New Consumption Industry Unicorn" and "2018 China Enterprise Service Industry Hard Unicorn"
On December 6, the "2018 New Consumption Industry Unicorn Summit" hosted by Chuangyehuoma was held in Beijing. At the event, the closely watched "2018 China New Consumption Industry Unicorn" list was announced. After multiple rounds of review, Pagoda was selected for the 2018 China New Consumption Industry Unicorn. Edianzu and Baibu stood out from hundreds of leading enterprises in terms of brand, service, and technical comprehensive strength, earning the Chuangyehuoma "2018 China Enterprise Service Industry Hard Unicorn" honor.
WeiMai
Named to "2018 Future Healthcare Top 100"
On December 18, the healthcare industry annual event "2018 Future Healthcare Top 100 Forum" was held in Beijing, with the "Top 100 List" released simultaneously. The Top 100 list, jointly launched by VBData, Eggshell Research Institute, and Future Healthcare Academy, aims to gather core industry forces, drive innovation and transformation in the health industry, and identify the core forces of China's future healthcare industry. WeiMai, with its strong capabilities in the healthcare field, ranked among the top and earned the "2018 Future Healthcare Top 100" designation.
Cijinrong
Named to Yicai "China Financial Innovation Awards Best Pan-Supply Chain Finance Institution"
On December 11, at the 2018 Lujiazui New Finance Annual Conference hosted by Yicai, Cijinrong was named Best Pan-Supply Chain Micro and Small Finance Institution in the 2018 China Innovation Awards. As a professional micro and small finance services platform, Cijinrong established its strategic goal of becoming a micro and small finance risk solution provider from its founding. With deep understanding and pioneering thinking regarding micro and small enterprises and individual business loans, and keeping pace with the data-driven and scenario-based development trends in micro and small finance, Cijinrong pioneered the "Zhanlu Risk Control System." Through its innovative "super loan officer + credit factory + internet + big data" micro and small finance model, it built the most professional team in the industry, established a remarkable starting point, and achieved outstanding results in the continuously developing pan-supply chain scenario finance.
Walnut Coding
Wins three major education industry awards from Tencent, Baidu, and SINA
Recently, at education industry annual ceremonies hosted by Tencent, Baidu, and SINA, Walnut Coding won three awards in succession: "2018 Emerging Education Brand," "2018 Well-Known Quality Education Brand," and "2018 China Tech-Featured STEAM Education Brand" — achieving a grand slam of rare, high-caliber, high-influence awards in the education sector. This also made Walnut Coding one of the few education companies to win all three awards, drawing considerable industry attention.
More from Code Brain Journal
Code Brain Journal · November | 4 companies completed funding; 8 made strategic upgrades; multiple companies named "2018 King of New Economy"
Code Brain Journal · October | NIU Technologies IPO on NASDAQ; 3 companies completed funding; Code Brain Session 8 explores India
Code Brain Journal · September | Meituan IPO on Hong Kong Exchanges and Clearing; 4 companies completed funding; 8 won 12 awards
Code Brain Journal · August | 4 companies completed funding; 7 made strategic upgrades; Code Brain Session 7 details WeChat ecosystem and mini-program user acquisition
Code Brain Journal · July | 3 companies completed funding; 5 named 2018 China Pre-Unicorns
Code Brain Journal · June | Meituan filed IPO application; 3 companies completed funding; Code Brain Session 6 visits ByteDance
