Shanghai-based laundry service provider 24Tidy has acquired rival Tiantianxiyi at RMB 950 million (USD 135 million), according to a press release from 24Tidy on Wednesday.
24Tidy, which was founded in 2013, operates in an online-to-offline model. Individuals in 12 large cities, including Beijing and Guangzhou, capital of South China’s Guangdong province, can order laundry services for clothes, shoes, and luxury bags on channels including 24Tidy’s own app, its WeChat account and Meituan. 24Tidy’s employees will pick up these items to be washed and returned.
Tiantianxiyi, which was founded in 1991 in Guangzhou, also offers on-demand laundry services but only in the city and Zhongshan in Guangdong province, according to its WeChat account.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.
