Maimaibao 2012 Revenue Reaches RMB 1 Bln

Ebrun, 1/21/13

Chinese m-commerce firm Wuxi Maimaibao Information Technology (Mmb.cn) recently announced that it recorded sales of approximately RMB 1 bln in 2012, double the company's 2011 sales.

A spokesperson for Maimaibao said that the website received 4 mln average daily PVs as of the end of September 2012, with a return rate of roughly 40%. Maimaibao's staff grew from 400 or 500 employees to 1,500 people in 2012. The company currently offers more than 50,000 SKUs, and has an average order value of RMB 180 to RMB 250. Smartphones and footwear/apparel orders accounted for roughly 50% of Maimaibao orders in 2012.

In December 2012, Maimaibao and Shenzhen-based Internet giant Tencent (0700.HK) partnered on an RMB 400 mln "Tencent - Maimaibao" project in Wuxi, with the aim of making the city a center for m-commerce operations, logistics, procurement, and R&D. In 2013, the spokesperson said, Maimaibao will continue and expand upon its cooperation with Tencent, and Tencent will offer the company support in the areas of funding, users, and technology.

Keywords: 2012 m-commerce revenue wireless Tencent 0700.HK Maimaibao

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