On February 28, 2020, the investment in Buy Quickly (a subsidiary owned by Ellassay (603808)) by Sequoia, Hangzhou Jiebai Group Co., Ltd. and other investors through capital increase and equity transfer was successfully completed. The equity transfer price totaled RMB 344.3 million, and by such transaction, Buy Quickly obtained additional capital of 150 million from Sequoia. JunHe has participated in the investment as the special legal counsel of Sequoia.
Buy Quickly was founded on September 16, 2010, mainly engaging in online and offline activities in relation to its brands. Buy Quickly has developed rapidly in recent years and is expected to maintain a high growth rate in the future. Baiqiu, a subsidiary of Buy Quickly, has been awarded the title of "Gold Taobao Partner" by Tmall Platform for six consecutive times since 2013 and "Six Star Service Provider" for several times by Tmall Platform since 2016. It has become the industry leader in luxury and luxury brand services.
As the counselor of the lead investor, JunHe has assisted through the legal due diligence, design and demonstration of transaction structure, drafting, negotiation and execution of transaction documents and the closing of the transaction. With JunHe team’s assistance being based on abundant project experience and professional and rigorous legal services, the leading investor Sequoia eventually successfully complete the investment. JunHe team won high recognition from Sequoia and other parties of the transaction.