Seabuy.com

About Seabuy.com

Ningbo Jingbei E-commerce Co., Ltd., operating as Seabuy.com, is a cross-border e-commerce entity headquartered in Ningbo, China. Established on May 7, 2014, the company was among the first batch of cross-border e-commerce pilot enterprises approved jointly by the National Development and Reform Commission and the General Administration of Customs of China. The legal representative is Wu Hui, who also serves as the general manager.

Seabuy.com functions as an e-commerce platform specializing in imported daily goods for Chinese consumers. The business model is centered on providing a comprehensive, one-stop "Haitao" (sea shopping) solution, which encompasses the entire cross-border supply chain. This includes overseas procurement, freight forwarding, customs declaration, warehousing, and channel marketing. The company's platform, also known as Xibei.com, offers a wide array of products, such as maternal and child products, personal care items, health products, household goods, and pet food. By managing the entire import process, Seabuy.com enables both individual consumers and other businesses to purchase imported goods directly.

The company's revenue is generated from the sale of these imported products through its online platform. Seabuy has demonstrated significant sales growth since its inception, aiming for a sales scale of 550 million RMB in 2018. In September 2018, the company secured a Series A investment of $14.6 million (100 million RMB) led by Taofen8, with participation from GSUM Capital and the Ningbo Municipal Government Angel Guidance Fund. This funding was intended to strengthen upstream brand integration, develop supply chain platform technology, and expand its brand and product libraries.