360Buy Completes USD 700 Mln Fourth-Round Funding

36Kr, 2/16/13

According to Sina Tech, Beijing-based B2C e-commerce platform 360Buy has completed USD 700 mln in fourth-round funding. Participants in the round, including the Ontario Teachers' Pension Fund and Kingdom Holding Company, received ordinary shares. Following the new round, the Ontario Teachers' Pension fund is now the largest shareholder in 360Buy. A number of previous 360Buy investors also participated in the round.

The new funds will be put toward company operations, future business development, and strengthening of the company's logistics network. According to 360Buy CEO Liu Qiangdong, 360Buy current has cash reserves of over RMB 15 bln.

Prince Alwaleed bin Talal, head of Kingdom Holding Company, revealed that the new round of funding gives 360Buy a post-investment valuation of USD 7.25 bln. Kingdom Holding Company invested RMB 2.5 bln in 360Buy's fourth round of funding.

Editor's Note: For more background on this topic, please see "Rumor: 360Buy Lands USD 400 Mln in New Funding" MD 11/13/12 issue.

Keywords: Ontario Teachers' Pension Fund Kingdom Holding VC Liu Qiangdong e-commerce Internet funding valuation B2C 360buy fourth-round

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