Yao123.com

About Yao123.com

Yao123.com, the public-facing brand for Guoyao Online (国药在线), represents the strategic e-commerce initiative of the state-owned enterprise Sinopharm Group. Launched in June 2015, the company was established to build an integrated online healthcare service platform, leveraging its parent's extensive resources in pharmaceutical manufacturing, commercial distribution, and retail. The firm is led by CEO Wang Letian, who brought a crucial blend of experience to the role; prior to co-founding Guoyao Online, he was the CTO for e-commerce pharmacy Hao Yao Shi and had a background in the telecommunications and digital media sectors, providing a foundation in technology before pivoting to the pharmaceutical internet space.

The company's business framework is multifaceted, centered on a B2C online marketplace that sells a comprehensive range of products directly to consumers. This includes prescription and over-the-counter medications, health supplements, medical devices, and personal care items. Beyond direct online retail, Guoyao Online has developed a "Retail+" and "Distribution+" model. This strategy aims to digitize and empower Sinopharm's vast offline assets, which include a nationwide network of pharmacies and distribution companies. Revenue is generated through the sale of goods on its multi-channel e-commerce platforms, which include its self-operated website (yao123.com) and flagship stores on major third-party sites like Tmall and JD.com.

A key operational feature is the integration with its parent company's supply chain, providing access to a wide array of authentic pharmaceutical products. To ensure patient safety and provide value-added services, the platform employs a team of licensed pharmacists who offer online consultations and medication guidance. The company has successfully raised significant capital to fuel its expansion, including an Angel round from investors like Fosun Pharma in 2016, a 120 million RMB Series A in 2017 led by Yunfeng Capital, and a 300 million RMB Series B in 2019, demonstrating strong investor confidence in its model. By creating "cloud pharmacies," Guoyao Online works to bridge the last-mile gap in the supply chain, facilitating both online ordering with in-store pickup and direct delivery services.