China’s 360buy Raises Whopping $1.5B
Chinese e-commerce website 360buy.com has closed on a whopping $1.5 billion in a new funding, Reuters reported. Russian Internet investment group Digital Sky Technologies put in $500 million. Digital Sky has previously invested in Facebook and online coupon website Groupon. 360buy said that Tiger Fund had also invested in the firm. In December, 360buy confirmed that it had secured $500 million in funding from six strategic partners including Wal-Mart Stores Inc., Reuters said. 360buy sells branded electronics goods online, and has plans for an initial public offering in 2013.
1 April 2011•3 mins read
