Shanghai-based Start-Up DDMap Receives Strategic Investment from Citi Ventures
By Wei Hopeman, Managing Director and Asia Venturing Head, Citi Ventures November 21, 2012 01:00 PM
Citi Ventures focuses on innovation and makes strategic equity investments in emerging technologies that can shape the future of money. The Citi Ventures Asia team recently invested in DDMap, one of the largest lifestyle information websites and mobile-offers platforms in China.
DDMap is a leader in China in online-to-offline commerce - providing consumers with lifestyle information through the internet and mobile internet, and motivating them to visit a physical store. It does this by aggregating deals and listings for many of China's major retailers and delivering them to consumers online and on the move (via its mobile apps DDcoupon and DDlife).
Our investment demonstrates the power of Citi Ventures' footprint in the world's major tech hubs. With offices in Palo Alto, Shanghai, Singapore and New York, Citi Ventures can spot waves as they are beginning to form, invest in and help grow the best of them, and potentially use them to deliver new value for our customers. Being close to entrepreneurs and startups, we experience and understand the ecosystems. We were attracted to DDMap in part by their understanding of consumers and are excited about their ability to provide an easier, quicker and more relevant way to save money.