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Capital Today Denies Plans to Sell 360Buy Shares

Sina Tech, 10/14/09

Both investment firm Capital Today and Beijing-based IT products B2C e-commerce platform 360Buy's public relations spokespeople have denied the rumor that Capital Today is seeking to unload 360Buy shares. Capital Today president Kathy Xu said that plans are in motion for 360Buy to go public in 2011, and that Capital Today will not sell its share of the company until at least 3 years after the IPO.

Some media have reported that Capital Today has already begun looking for a buyer in Taiwan for its 30% stake in 360Buy. In January 2009, 360Buy received USD 21 mln in venture capital from Capital Today, Bull Capital Partners, and a private company owned by Asian investment banker Francis Leung.

Keywords: divest Kathy Xu e-commerce Internet IPO B2C 360buy Capital Today

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