Rumor: IDGVC Invests in E-Commerce Service Provider

China Business News, 4/20/10

A source at IDG Capital Partners (IDGVC) has revealed that his firm has invested in Guangzhou-based Yiji Network Technology, in order to help Yiji build its "Yi Shangwu" (Easy Business) e-commerce platform. The source did not reveal the amount of the investment.

Yiji founder and COO Bao Wenqing did not deny the rumored investment, but declined to offer any specific figures. "Yi Shangwu" is positioned to serve traditional brands, and has formed strategic partnerships with home appliance makers Joyoung Electronics, Midea Electronics, Jian's Household Electrical Appliances, appliance and electronics maker Hedy, babycare product maker BeingMate, Disney Toys, and other traditional brands, to which it provides front-end marketing services as well as back-end IT and information processing, corporate resource management, and supply chain integration services.

Keywords: funding VC e-commerce Internet IDGVC Bao Wenqing Yiji

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