Tencent-Backed Alcohol Delivery Firm Said to Seek New Funds

Jiuxiaoer, an alcoholic beverage delivery company in China, is seeking to raise about $200 million in a new funding round that could elevate the startup to unicorn status, people with knowledge of the matter said.

Guangxi Jiaojiu Network Technology Co., the firm behind Jiuxiaoer, could be valued at $1 billion or more after the investment, said the people, who asked not to be identified as the information is private.