Peanut Diary

About Peanut Diary

Peanut Diary, known as 花生日记 in Chinese, is a social e-commerce platform headquartered in Guangzhou, China, that launched in 2017. The company was founded by Chairman Yang Xianqiang and co-founder Dong Huiyi. Operating in the internet retail industry, Peanut Diary functions as an e-commerce guide, providing users with product information and discounts sourced from other platforms.

The business model centers on social commerce, leveraging a multi-level membership structure to drive sales. Users of the app can access coupons and discounts for products. The platform's revenue is generated through commissions on transactions facilitated through its network. The company targets consumers looking for deals and individuals interested in earning commissions by promoting products within their social networks. It utilizes big data and deep learning technologies to offer targeted marketing services to enterprises, aiming to enhance their promotional effectiveness.

Historically, the company employed a tiered system involving roles such as operators and super members, where advancing to a higher level, like 'super member', initially required a fee. This structure allowed higher-tiered members to earn commissions from the sales generated by the networks they recruited. This model came under scrutiny, and in March 2019, the company was fined by the Guangzhou Administration of Industry and Commerce for operating what was deemed a pyramid sales scheme. Following this, in August 2019, Peanut Diary announced it had secured an RMB 300 million ($42 million) Series A+ funding round to support expansion into new sectors like online travel and education.