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Lipstick in a mall in China. Photo by Imaginechina via AP Images.
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Venture Capital Asia E-commerce

Chinese Cosmetics Startup Perfect Diary Aims to Double Valuation to $4 Billion

By  |  Aug. 17, 2020 5:01 AM PDT
Photo: Lipstick in a mall in China. Photo by Imaginechina via AP Images.

Riding a wave of rebounding internet shopping and rising nationalism among young Chinese consumers, Perfect Diary, the four-year-old Chinese online makeup brand, is in talks to raise between $100 million and $200 million. 

If successful, the investment would double the startup’s valuation to $4 billion from $2 billion when it last raised capital in March in a round of financing led by Tiger Global Management, people familiar with the talks said.

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