Yodel gets Chinese shareholder

The hyperlocal platform Yodel has completed a recent financing round. The Chinese group Netease is also getting on board and acquiring over 20 percent of the start-up.

Jodel was founded back in 2014 and the big hype surrounding the app seemed to be over. However, the start-up has now gained the Chinese group Netease as an investor, which will hold 23% of Yodel via a subsidiary in future. The gaming company Netease is listed on the stock exchange and was valued at 55 billion euros in 2020. Sweet Capital will also become a shareholder. The fund belongs to King.com, developer of the game Candy Crush.

Existing investors are also involved in the current financing round, but the company did not disclose exact information to Gründerszene with reference to trading restrictions.

Jodel has raised ten million euros to date, including from Global Founders Capital and Atlantic Internet. According to the company, seven million people use the hyperlocal platform Jodel, which only shows its users posts from their immediate surroundings. Jodel has also been advertising since 2018.