Mar 05, 2012
Frank Ning (Ning Gaoning), chairman of the board of the Chinese oil and food import/export firm COFCO, has announced that COFCO's subsidiary and food product B2C website Womai will receive a round of venture capital financing in the RMB nine-digit range in exchange for 10%-20% of shares. Post-funding, COFCO will remain the company's largest shareholder.
Keywords: Frank Ning Internet funding B2C COFCO e-commerce VC
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