Image taken fromVova official website
According to data from analyst firm Sensor Tower, Vova, which went online in March 2018, has been downloaded 22 million times worldwide. According to Sensor Tower, monthly downloads in June surged more than 20 times to 2.2 million times from 104,000 in the same period last year. According to App Annie, Vova is now the most downloaded shopping app in France.
However, with the help of a recent round of about $300 million in financing, the scale of Wish has continued to expand. This round of financing pushed Wish's valuation to over $11 billion.
Like Wish, Vova's market sells almost everything at the lowest price, from $7 dresses to $10 jeans to $45 intelligence.Mobile phoneEverything is available. The design of the Vova shopping site is very similar to that of the multiplayer.
In order to strengthen the supply of its low-priced products, Vova has been absorbing the Chinese suppliers who are trying to digest the excess inventory of the factory.
Vova is one of many Chinese shopping applications that go global. For example, Jollychic, a fashion e-commerce application backed by Sequoia Capital China, received a $1 billion valuation last year, thanks to its popularity in the Middle East market. . The Club Factory, supported by Qiming Ventures and Bertelsmann Asia, focuses on the Indian market. “Responsible” and Club Factory are located in Hangzhou, where Alibaba is headquartered.
“From clothing to furniture, there are many merchants and suppliers in China who have been working with international platforms such as eBay and Wish for many years,” said Wu Yunlong, managing partner of Shanghai Zero Venture Capital. Wu Yunlong said that now, these Chinese businessmen and suppliers can also sell their products overseas through more and more Chinese platforms.
Entrepreneurs in China's e-commerce sector are beginning to focus on Vova's growth. However, as a company, Vova did not disclose the names of founders, executives or investors. “Many investors are trying to figure out the behind-the-scenes push for Vova,” said a Beijing venture capitalist who invested in e-commerce startups.
Some media speculate that Vova has a lot to do with the fight. But a lot of speakers said that Vova has nothing to do with the fight. But some Vova employees seem to be happy to think that the two companies are connected. Earlier this year, Vova was at a gathering of hundreds of businessmen in the southern city of Guangzhou. A Vova employee told those who participated in the event that Vova had received information about whether it was associated with a company whose name contained the voice "duoduo". ask. According to the participants. The employee said that the company is like the "father" of Vova.