Following official announcements from Sequoia, Black Ant, and Jinshi Capital.
Spicy King officially completed its one-billion-dollar Series B financing round, reaching a valuation of ten billion US dollars.
The entire investment world was rocked by the bombshell news.
Many venture capital firms had previously offered valuations of six or even seven billion US dollars.
But a valuation of ten billion US dollars still left them in shock.
That was the threshold for a "decacorn"—a super-unicorn enterprise!
Any company that reached such a valuation was invariably a leader in its field.
Or even the undisputed industry titan.
But for Spicy King to get that valuation in just its Series B round...
Wasn't that a bit of an exaggeration?
Such doubts lasted for less than three days.
Then Yuan Li publicly revealed the revenue figures for Spicy King's 45 stores nationwide.
The many hesitant venture capitalists were instantly kicking themselves with regret.
