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Rumor: Online Pharmacy 360Kxr Lands USD 8-Digit Funding

DoNews, 11/23/11

An industry source has revealed that Jiangxi-based B2C online pharmacy Kaixinren Pharmacy (360kxr.com) will complete eight-figure USD first-round funding later this year. Kaixinren general manager Shi Wenlu has declined to reveal further details, saying only that in addition to expanding the company's marketing efforts, funding will be used primarily to build logistics centers in Guangzhou and Shanghai, followed by the construction of a third logistics center in Chengdu in 2012. Shi also said that the company has plans to build its first call center in Beijing.

Since its launch in June 2010, Kaixinren has grown from a team of several dozen to more than 150. With more than 500,000 users, Kaixinren now processes more than 1,000 orders each day and has sales of RMB 6 mln each month.

Kaixinren has said it will introduce a healthcare news service in 2012, bringing users healthy living tips and information regarding medicine use. Also under consideration is a mobile service which would remind users when to take their medicine.

Keywords: Shi Wenlu sales volume revenue Internet funding users B2C online healthcare first-round logistics 360kxr e-commerce

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