Online investment
By Zhu Shenshen |
July 13, 2011, Wednesday
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Print Edition
Print Edition
SHANDA Entertainment and two undisclosed investors have invested a total of 2 billion yuan (US$307 million) to establish an online auction website called Pin Ju, the Shanghai-based game giant said yesterday.
Nasdaq-listed Shanda, as the major investor of the website, plans to expand into the booming e-commerce sector and challenge Alibaba.com's dominant market position in the sector, industry insiders said.
Shanda's former senior executive Ge Binbin will be in charge of the website, which will officially debut in October, according to Shanda.
Nasdaq-listed Shanda, as the major investor of the website, plans to expand into the booming e-commerce sector and challenge Alibaba.com's dominant market position in the sector, industry insiders said.
Shanda's former senior executive Ge Binbin will be in charge of the website, which will officially debut in October, according to Shanda.
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