In the ‘2017 Tech Crunch Shanghai’ held in November 25-28th, 2017, Membersheep Company disclosed for the first time a distribution platform, which combines import and smart distribution in China.
‘Tech Crunch’ is a worldwide startup business competition organized every year by the IT media Tech Crunch with the participation of renowned local VCs, accelerators, promising startup businesses, etc. This year Tech Crunch Shanghai is sponsored by Li&Fung, the biggest fashion firm in Hong Kong, Wework, an office-sharing firm in New York, etc. Leading investment firms like GGV CAPITAL, ZhenFund, etc took part in the competition, let alone China’s biggest venture capital, IDG.
Membersheep Company has shown a steep average growth of 170% in monthly average since it first set foot on Shanghai in 2016. Its growth and potential were also recognized in this year’s Tech Crunch Shanghai to be one of 8 firms to have a pitching opportunity. As the only Korean firm to pitch in front of VCs, startup businesses and the general public in the Tech Crunch Shanghai final, Membersheep Company introduced its new platform on the spot.
The new platform of Membersheep Company effectively solves problems faced in transactions between Chinese local retailers and overseas consumer goods brands. In particular, Membersheep Company emphasized that revolutionizing the previously complex and passive B2B trade involving emails, phone calls, meetings, etc. into digitalized and automated business will open a new paradigm of B2B trade in China.
“New imports are a distribution revolution, which can be a foothold for new retail in China,” a branch manager of Membersheep Company in China Che Changlong mentioned. “We will help 5 million retailers in China import goods easily based on the attention and the outcome of this Tech Crunch,” he added.