Xingsheng Youxuan is a community shopping platform that provides fresh products for consumers.
Xingsheng Youxuan relies on community-based offline convenience stores to meet the daily needs of household consumers through a new online order and offline pick-up retail model.
Xingsheng Youxuan was founded in 2018 by Lihua Yue. The company is headquartered in Changshahsien, Hunan, China.
Xingsheng Youxuan's platform provides fresh vegetables, fruits, meat and poultry, seafood, common staples,seasoning, and other general merchandise.
Xingsheng Youxuan delivers online bulk orders to offline grocery stores located inside or near residential communities. It now runs the service in 13 provinces and municipalities, covering more than 6,000 counties and over 30,000 towns, according to its website.
Xingsheng Youxuan handles more than 8 million daily orders, and estimated to have a gross merchandise value of 40 billion yuan ($6.18 billion) in 2020.
Xingsheng is backed by Tencent, JD.com, Tiger Global Management, Kohlberg Kravis Roberts, FountainVest Partners, Primavera Capital Group and KKR & CoFountainVest Partners, Primavera Capital Group, KKR & Co and others. The company raised $2B in a new round on Feb 19, 2021. This brings Xingsheng's total funding to $3.9B to date. The latest round valued Xingsheng $6B post money.