Jumei International
- 🦄Became a unicorn2014
- 📈Peak valuation$2.9 Billion ’14
- 💔Became a Unitard2016
- 💸Last valuation~$232M
How it happened
Jumei International was China's first and largest vertical cosmetics e-commerce company, riding a flash-sale model to a celebrated NYSE IPO in May 2014 at a market capitalization around $2.9B, when its young founder Leo Chen became one of China's most famous internet entrepreneurs. Counterfeit-product scandals, intensifying competition from Alibaba and JD, and slowing growth steadily eroded the business and the stock. After years of decline, founder Leo Chen led a going-private buyout that completed in April 2020 valuing the company at only about $227M — a small fraction of its IPO-era worth.
Source: Renaissance Capital / Nasdaq / GlobeNewswire (China's first and largest vertical cosmetics e-commerce company; May 2014 NYSE IPO at an ~$2.9B market cap; fakes scandals, competition and slowing growth eroded it; founder-led going-private completed Apr 2020 at ~$20/ADS, ~$227M total)
