Jingdong to Divest from eHaoYao
TechWeb, 5/28/13
An industry source reported on May 27 that proceedings were underway to dissolve Beijing-based B2C e-commerce platform Jingdong's stake in pharmaceutical JV eHaoYao. According to former eHaoYao director of marketing Shao Qing, Jingdong will divest itself of its 49% share in the JV, upon which eHaoYao will be operated solely by JoinTown Pharmaceutical Group (600998.SH).
A visit to the eHaoYao online store today revealed that Jingdong's name has been removed from the site's former "Jingdong eHaoYao" logo, which now reads "eHaoYao Online Pharmacy."
Editor's Note: When contacted today, Jingdong said that it plans to establish its own wholly owned online pharmaceutical site, "Jingdong Medicine Mall" (unofficial translation). Jingdong will bring major pharmaceutical channels and pharmacy chains on as merchants for the new platform, which the company will develop as an open platform for regional medicine and health supplement sales and O2O services.
Editor's Note: For more background on this topic, please see "Rumor: 360Buy to Pull Investment from eHaoYao" MD 2/20/13 issue.
Keywords: Shao Qing e-commerce Internet divest B2C JV Jointown eHaoYao Jingdong online healthcare 600998.SH
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