Xingsheng Selected
Developer of an eCommerce platform designed to provide food and household products for consumers.
Internet Retail
📍 Changsha, China
Founded 2018
Current Valuation
$12B
as of 2021-Q3
DECACORN
Xingsheng Youxuan pioneered Chinese community group buying — neighbourhood leaders aggregate orders for next-day grocery pickup — and was the model Meituan and Pinduoduo copied at enormous scale. The subsidy war that followed made the format unprofitable for everyone: Didi's Chengxin Youxuan collapsed, Meituan closed Youxuan across most of China in June 2025 and shut it nationwide that December, and Xingsheng itself retreated from six provinces to a core of three in central China while dropping subsidies to chase operating discipline.
Company Profile
Growth
The $12B mark is a July 2021 print at the peak of the community group-buying subsidy war. The sector has since collapsed — Meituan and Didi both wound their businesses down — and Xingsheng has retreated from six provinces to three, holding roughly 17% share as the last independent player.
Last Round
Later Stage VC — $300,000 (Jul 2021)
Fundraising Status
Later Stage VC · $300,000 · 5y 1mo ago
privateTotal raised $5.1B
Latest Funding Round
| Round | Amount | Date | Lead Investor | Post-Money |
|---|
| Later Stage VC | $300,000 | Jul 2021 | — | $12B |
Investors
Tencent · Sequoia Capital China · KKR · FountainVest Partners · Temasek · DST Global
Products
- Community group-buying platform (next-day pickup via neighbourhood leaders)
- Grocery and fresh-produce fulfilment network
Competitors
Meituan Youxuan (closed) · Pinduoduo (Duo Duo Maicai) · Chengxin Youxuan (closed) · Xiaoxiang Supermarket
E-commerceCommunity Group BuyingGroceryChinaRetail
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2021-Q3. Refreshed quarterly.