On March 13, 2020, technode pointed out that donut glass pipe and snowplus said in a statement that it had raised 125 million us dollars from many global investors.
Prior to this, snowplus raised more than 40 million US dollars in Round A, which was the largest amount raised by the glass pipes industry in the first half of 2019. Three months later, he invested more than 50 million US dollars in moti.
However, a former employee of Snooplus disclosed to technode that due to various problems, Snooplus has laid off 20% of its employees since November last year. Insiders said the company was in trouble and the outbreak of the new coronavirus would only make the situation worse.
Before the outbreak of the new coronavirus, glass bowl pipe Rex Yueko took the first step of the offline channel.
On January 13, 2020, Rexroth's first flagship store in the world officially opened in Shanghai. Prohibiting the online sale of glass pipes will block the online channel, and it is especially critical who can operate before the offline channel. Yueke plans to invest 600 million yuan and open 10,000 stores in the next three years.
In addition, glass pipes for sale and Rexroth are also one of the few companies that promote corporate social responsibility and have introduced a "sunflower system" to protect minors. Rex Yueko's ambition can be seen in the fact that he rushed into the offline channel and cherished his feathers so much. However, it is not clear how glass pipes will develop after Rexroth.