Alibaba-backed parenting platform Babytree to branch out globally, grow international revenue over three years
- Hong Kong-listed company wants revenue from international business to exceed a third of its China sales
- Firm expects to continue growing despite ‘deep winter’ in Hong Kong capital market
Babytree, China’s largest parenting website, wants to expand globally within three years, targeting markets with growing internet use and infrastructure, while at the same time capitalising on the growing number of second child births domestically.
The company, which is backed by South China Morning Post‘s parent Alibaba Group Holding, said last week it wants revenue from international business to exceed a third of its China revenue within the next three years, and expects to do so without too much competition.
“Tencent has to compete with Facebook outside China, and Alibaba has to contend with Amazon. But I don’t think there is an equivalent to what Babytree does,” said Allen Wang Huainan, founder and chief executive of Babytree. “Maybe some Facebook groups, but nothing like our consolidated platform, with e-commerce and advice forums.”
The Hong Kong-listed company also counts Shanghai-based investment company Fosun International and tutoring services provider TAL Education among its investors, and is an e-commerce platform that combines parenting forums with online shopping for childcare products.
Wang said the company was looking to expand into markets such as India, where internet users are expected to reach 627 million this year, according to market research agency Kantar IMRB.