Jinshan Cloud Completes D-Round Financing of $300M, making it the most valued independent cloud provider in China.

Jennifer| 2017-12-12 Source: Cloud Computing Comments( 0 )

On December, 12th, Jinshan Cloud, one of top three cloud providers in public cloud in China, demonstrated its potential by raising $300 million in D-round financing, during which Jinshan Cloud is valued at around $19 million, making it the most valued independent cloud provider in China.

According to an announcement of Jinshan Group, Jinshan Cloud issued 353.5 million shares of preferred stocks in D round financing. Liyue and China Minsheng Bank led the strategic investment, respectively acquiring 58,922,728 shares of preferred stocks with $50 million and 117,845,4 shares of preferred stocks with $100 million, and was joined by Jinshan Software, acquiring 76,768,184 shares of preferred stocks with $150 million. After the completion of financing, Jinshan Software, China Minsheng Bank and Liyue respectively has a 51.93%, 5.26% and 2.63% stake in the company.

To provide the cheapest cloud computing services for its customer, Jinshan Cloud announces that it will decrease price entirely. The price of CDN and cloud database Redis will be the lowest in the history, respectively experiencing the largest decline of 50% and 60%; and cloud servers’ price will experience a largest decline of 40%; and the price of KS3 traffic of Storage Service will reach to its lowest with a decrease of 10%.

Wang Yulin, CEO of Jinshan Cloud, says that this round of financing will instill vitality into Jinshan Cloud’s follow-up development. After completing the financing, Jinshan Cloud will put more investment in the development of artificial intellegence, and consolidate and expand its dominant position in Internet fields, such as video and games, and comprehensively distribute in vertical industries, such as government affairs, manufacturing, finance and healthcare. Jinshan Cloud expects its revenue of more than 10 billion in the next 3 years, accounting for 30% of China IaaS public market share.



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