Russian Venture Capital Funding For Chinese Retailer
jurvetsonDST is the Russian internet venture capital funding group that backed Facebook. Now this firm is joining a group of other investors in committing hundreds of millions of dollars to China's largest online retailer, 360buy.com. This is the Chinese company's third round of funding, and includes investment form several other companies like Walmart.
A stock market listing for the company is also likely in the next few years. VC investors see the vast opportunity for online commerce in China, and 360buy is well positioned to capitalize on this growth. The company began by selling electronics online, but has since expanded into a wide range of products. They have recently launched an online group-buying channel that is similar to Groupon. DST is led by Russian billionaires Yuri Milner and Alisher Usmanov, and the firm already owns large stakes in Facebook, Groupon and Zynga.
jurvetsonDST is the Russian internet venture capital funding group that backed Facebook. Now this firm is joining a group of other investors in committing hundreds of millions of dollars to China's largest online retailer, 360buy.com. This is the Chinese company's third round of funding, and includes investment form several other companies like Walmart.
A stock market listing for the company is also likely in the next few years. VC investors see the vast opportunity for online commerce in China, and 360buy is well positioned to capitalize on this growth. The company began by selling electronics online, but has since expanded into a wide range of products. They have recently launched an online group-buying channel that is similar to Groupon. DST is led by Russian billionaires Yuri Milner and Alisher Usmanov, and the firm already owns large stakes in Facebook, Groupon and Zynga.
Comments