Shumeiwuwu, founded by Ren Lifeng, the early product leader of Douyin, recently completed tens of millions of US dollars in Pre-A round financing, with a valuation of US$150 million. This round of financing was led by Meituan Longzhu, followed by Jinqiu Fund, with continued support from Sequoia China and IDG Capital. Shumeiwuwu is committed to using generative AI technology to build creative e-commerce community Hitems, providing full-chain services from creative generation, production to consumption. Its unique business model and strong team background make it highly favored by capital. This article will explain in detail the financing situation, business model and team advantages of Shumeiwuwu.
According to reports from Smart Emergence, the entrepreneurial project "Shumeiwuwu" of Ren Lifeng (Byte nickname: Juanjuan), the early product leader of Douyin and the former vice president of PICO of ByteDance, recently completed tens of millions of dollars in Pre-A round financing. . This round of financing was led by Meituan Longzhu, followed by Jinqiu Fund, and continued support from old shareholders Sequoia China and IDG Capital. The company's post-financing valuation is approximately US$150 million.
Shumeiwuwu has been established for a short time, but it has developed rapidly. In February 2024, when the company was first established, it received investment from Sequoia China and IDG. This financing has laid the foundation for Shumeiwuwu to further expand its creative e-commerce community.
It is understood that Hitems, the core platform of Shumeiwuwu, aims to commercialize creativity through generative AI (GenAI) technology and provide full-chain services from creation to production to consumption. Hitems is a cross-border e-commerce platform that combines the creativity of creators with the technical advantages of the platform to promote the commercialization process.
In the creative generation stage, users can use GenAI technology to generate high-fidelity item images through keywords, pictures or hand-drawn drafts. In the production stage, Hitems uses its self-developed AI 3D modeling technology and mature supply chain system to transform creators' ideas into actual products. In the consumption stage, Hitems not only provides transaction services, but also creates an interactive community for users to share, browse and interact.
As one of the founding members of Douyin's "Group of Seven", Ren Lifeng has accumulated rich experience in the Internet industry. After joining ByteDance in Baidu Tieba, he led the cold start of Douyin and restructured Douyin's vertical categories, dividing tags into more than 300 subcategories. This decision is considered to be the key to Douyin's rise. key factors.
In 2020, Ren Lifeng was transferred to Xigua Video and served as the executive director of Weishi and the vice president of PICO, accumulating all-round management experience in long and short videos, community operations and hardware products. This enabled him to accurately grasp user needs and market trends with his keen market insight and management experience when he founded Shumeiwuwu.
As AI technology gradually matures and achieves large-scale commercialization, creative e-commerce and AI applications have become popular entrepreneurial fields. Hitems is based on mature e-commerce and community models, and provides a new business model through the combination of AI and 3D technology.
Product address: https://hitems.ai/
Shumeiwuwu’s successful financing and its innovative business model indicate the huge potential of AI to empower the creative e-commerce field. Ren Lifeng's rich experience and strong team provide a solid guarantee for the future development of Shumeiwuwu. It is worth looking forward to his greater achievements in the future.