Yougou Reiterates Denial of Baidu Investment Rumors

DoNews, 12/04/12

Xu Leigong, CMO of Chinese online fashion company Belle's B2C footwear platform, has denied rumors that the company has received investment from internet company Baidu (Nasdaq: BIDU). Yougou remains 100% owned by its parent company, Belle, according to Xu, but has been in talks with major internet companies such as Baidu as well as venture capital firms about additional funding. Xu said that as of last week talks with VCs were still only in the discussion stage and Yougou currently has no definite plans to raise additional funds.

Editor's Note: For more background on this topic, please see "Yougou Denies Rumors of Baidu Investment" MD 8/31/11 issue.

Keywords: Xu Leigong Internet funding B2C Baidu online fashion BIDU Belle Yougou e-commerce

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