360buy eyes IPO
By Cathy Ding |
April 27, 2010, Tuesday
|
Print Edition
Print Edition
LEADING online consumer electronics merchandiser 360buy.com is planning to launch an initial public offering on Nasdaq or the Hong Kong stock exchange as early as next year, President Liu Qiangdong told a media briefing.
Earlier this year, it has secured US$150 million venture capital from Tiger Global and other institutional investors.
The company may see sales value exceeding 10 billion yuan (US$1.5 billion) this year and may even double in 2011, Liu said.
China's online B2C transaction value totaled 22 billion yuan in 2009 and 360buy ranks first with a market share of around 19 percent, according to Internet consultancy Analysys International.
Earlier this year, it has secured US$150 million venture capital from Tiger Global and other institutional investors.
The company may see sales value exceeding 10 billion yuan (US$1.5 billion) this year and may even double in 2011, Liu said.
China's online B2C transaction value totaled 22 billion yuan in 2009 and 360buy ranks first with a market share of around 19 percent, according to Internet consultancy Analysys International.
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