Bizark Obtains IDG Investment
Oriental Morning Post, 8/24/10
Bizark, an e-commerce company providing comprehensive solutions for international e-commerce and trade, officially launched yesterday. Though the company did not disclose any particulars of its investment, a reporter for the Oriental Morning Post found that IDG invested up to USD 40 mln in the new company.
Bizark founder Zhou Ning said he hopes for the company to become "a second Alibaba."
Bizark has formed a partnership with Google to develop a personalized platform designed to cater to the needs of overseas clients based on enterprises' product offerings and overseas market conditions; the platform will be available to foreign trade companies and small-scale wholesalers hoping to expand overseas, in cases where the companies and wholesalers offer a relatively focused range of products. Bizark CEO Gu Muchen had previously served as Google's GM for the East China region, and as GM of the company's China Export Services division.
Bizark's services will include overseas market research, website construction, ad campaign implementation, offline logistics support, customer support, and foreign-oriented legal services. The company already has more than 400 employees.
Keywords: Bizark foreign investment Gu Muchen e-commerce Internet Google IDG logistics funding
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