Shopping Directory iTugo Wins Angel Funding from Matrix
36Kr, 11/22/12
Chinese e-commerce brand directory iTugo has obtained angel funding from VC firm Matrix Partners China. The site, which launched in July 2012, does not display non-branded or counterfeit goods. "95% of the goods listed on our competitors' sites are not found on iTugo," said founder Xie Xu. iTugo currently has more than 400 fashion brand partners, and users are redirected to the corresponding brand store on Chinese e-commerce conglomerate Alibaba Group's B2C subsidiaries TMall and Taobao when they click on a listing. iTugo's popular-items section primarily concentrates on mid-range brands.
Keywords: iTugo Xie Xu directory e-commerce Taobao Internet funding B2C VC Matrix Partners TMall
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