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Alibaba Rival Launches Crowdfunding Site For Startups

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TechCrunch | | April 1, 2015

JD Capital invests in crowdfunding 300x199 - Alibaba Rival Launches Crowdfunding Site For StartupsChina’s largest e-commerce companies are eager to leverage their millions of users and hoards of data for new projects. For example, Alibaba’s other businesses include healthcare management, financial services, and cloud data. Now, its smaller but still formidable rival, is branching out into crowdfunding for startups., which filled 689 million orders last year, has launched JD Equity Crowdfunding platform to help startups secure capital. The project is an offshoot of Coufenzi, the crowdfunding site opened last July.

Like Kickstarter, Coufenzi allows users to contribute funds toward individual projects and products. So far, projects on Coufenzi have raised a total of RMB280 million (about $45 million).

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JD Equity Crowdfunding, on the other hand, is designed for entrepreneurs who need to find early-stage investors. The site isn’t the first startup crowdfunding site in China, but with’s resources, it claims to already be the largest. Its competitors include CTQuan, which has raised $4 million in venture capital backing and uses a model similar to AngelList.

A spokesperson told TechCrunch that JD Equity Crowdfunding plans to differentiate from other platforms by “developing a complete ecosystem for startup companies.” In addition to the crowdfunding site itself, this includes resources such as JD Cloud, its cloud computing unit, financing tools, marketing support, and training from’s management, as well venture capital partners like Capital Today, ZhenFund, and Sequoia Capital. In exchange, will take a small equity stake in each successfully funded startup (though it isn’t disclosing how much).

“We believe that securing funding is only the first step in the success of a startup, and we want to ensure that companies on our platform have all the tools they need to reach their long-term goals. We are experienced in growing our own business rapidly, and helping our partners grow into success, and will draw upon this knowledge to help our partners succeed,” said the company.

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