China’s Baifendian raises $10m in IDG-backed Series B


china dragon_sqChinese recommendation website Baifendian has raised a $10m Series B round from IDG Capital Partners and Zhejiang Shinkansen Media Investment.

The company said it would use the funding for technology innovation and new product development.

IDG participated in Baifendian’s $7.2m Series A round in July 2011 alongside Mingxin China Growth Fund.

Baifendian services include Baifendian Recommendation Engine and Baifendian Analytics Engine , which analyze shopping preferences across the internet to help e-commerce sites increase their traffic conversion rates and transaction per customer.

IDG, which is backed by Accel Partners and International Data Group, has recently participated in a round of angel funding for open source payments developer OpenCoin.

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