A number of Chinese technology companies including online education service TutorGroup, online shopping sites Mogujie and Meilishuo.com and China’s version of Airbnb, Tujia.com are engaged in private fund-raising rounds, with each company seeking $300 million to $500 million, people familiar with the matter said.
The size of the pre-IPO funding rounds, expected to close in the second quarter, depend on investors' interest. Based on the targeted raise, each of the companies expects to be valued in excess of $1 billion.
In the past two years private capital has emerged as a distinct source of funding for tech companies that are not ready to list but need...
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