Equity selling as a biz devel tactic

Labster raised a down round of $9 million which they call a strategic growth check and made to bring on GGV in order to strengthen the company’s position in Asia. 

Last time I checked, equity selling to a VC was not a common practice to expand to Asia. China is a difficult market though and this biz devel tactic can be as good as any I guess - Jenny Lee, a Shanghai-based partner with GGV, will take a board seat at Labster. 

Labster raised $21M last year.

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