Rumor: 360Buy Lands USD 400 Mln in New Funding
CCIDnet, 11/13/12
Beijing-based B2C e-commerce platform 360Buy has completed a new USD 400 mln round of funding, according to an industry insider, at a valuation of USD 7.25 bln. According to the source, Ontario Teachers' Pension Fund participated in the round, investing RMB 250 mln. US-based Tiger Global Management also participated in the round. Following China's e-commerce price war in August, 360Buy CEO Liu Qiangdong was silent in domestic media because he had traveled to the United States, according to a source within the company, possibly in order to raise new funds.
Editor's Note: 360Buy confirmed it has completed a new round of funding as well as the participation of the Ontario Teachers' Pension Fund and the Tiger Global, but did not disclose any additional details. In a telephone interview with Marbridge Consulting, a representative from DST Investment said DST had invested in 360Buy in early 2011, at which time the valuation was approximately USD 6 bln.
Keywords: Ontario Teachers' Pension Fund Tiger Global Liu Qiangdong e-commerce Internet funding valuation B2C 360buy
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