Wal-Mart invests in Chinese e-commerce firm

View previous topic View next topic Go down

Wal-Mart invests in Chinese e-commerce firm

Post by NewsOnline on Mon Dec 27, 2010 3:46 pm

Wal-Mart invests in Chinese e-commerce firm

SHANGHAI | Fri Dec 24, 2010 1:25am EST

(Reuters) - Wal-Mart Stores Inc, the world's largest retailer, has invested in China's top online seller of consumer electronics and communication products, in a push to extend its reach to more Chinese buyers.

Chinese online business-to-consumer (B2C) company 360buy Jingdong Mall secured $500 million in funding from six strategic partners, including Wal-Mart, a 360buy spokeswoman said on Friday.

Wal-Mart's investment amount was not disclosed but the company has been eager to tap into the pocketbooks of China's burgeoning middle class, and earlier this year launched in China an e-commerce site for its Sam's Club warehouse stores.

http://www.reuters.com/article/idUSTRE6BN0CG20101224

--------------------------------------------------------------------------------
| Seoflex Forum |
avatar
NewsOnline

Posts : 853
Points : 4954
Reputation : 0
Join date : 2010-08-12

View user profile http://forum.seoflexforum.com

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum