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B2B Firm Lands USD 30 mln VC

China Business News, 4/08/08

Chairman and president Ling Feng of B2B site GlobalMarket.com announced today that the website had completed receipt of USD 30 mln in venture capital from Jafco Asia and NIFSMBC, as well as two private funds and three overseas-listed companies.

The group saw several hundred million RMB in revenues last year, with profits of several million; however, any attempt at listing would be determined by market trends. The company may consider listing overseas; reportedly it is eyeing the Nikkei Stock Exchange for its next step.

Keywords: funding e-commerce Ling Feng GlobalMarket Jafco Asia NIFSMBC B2B Internet Nikkei VC

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