Former Teacher Becomes Billionaire Liquid Detergent Mogul
About 10 years ago, Pan and her husband called Hillhouse Capital Management’s Zhang Lei to tell him about the liquid detergent they’d developed. At the time, Chinese companies didn’t make liquid detergent. Zhang liked what he heard. Blue Moon was a stable company with healthy profits at the time, but it was a small company. Hillhouse became Blue Moon’s first outside investor. Hillhouse invested $46 million in two funding rounds....