Alibaba Invests Undisclosed Round In Chinese Clothes Sharing Platform Ycloset

Chinese online women clothing sharing platform YCloset today announced that it has raised an undisclosed round from Alibaba Group Holding Ltd. This is the second time Alibaba has invested in YCloset. In September 2017, Alibaba had joined SB China Capital and Sequoia Capital to invest a US$50 million series C round in the company. Beijing-based YCloset plans to use the latest proceeds to expand its team, upgrade the recommended algorithm system and continue to build its warehouse and cleaning operation …

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