Qianxun Denies Funding Cuts
DoNews, 1/28/10
Chinese B2C e-commerce site Qianxun has denied rumors that SK Group had cut its funding, and that Qianxun would begin layoffs after Chinese New Year. The company also said that its investors are currently providing a new injection of capital to help Qianxun adjust its business operations in order to increase profits and efficiency, and that external partners are in constant talks with the company on possible cooperation.
Editor's Note: For more background on this topic, please see "Rumor: SK Group Cuts Off Qianxun Funding" MD 1/27/10 issue.
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