Kela 2011 Sales Revenue Reaches RMB 600 Mln
Sohu IT, 2/22/12
Wang Yong, VP of vertical B2C diamond retailer Kela, has revealed that Kela's 2011 sales revenue reached RMB 600 mln, up three-fold compared to 2010. Net profit was approximately RMB 10 mln, and sales volume is expected to reach RMB 1 bln in 2012. Kela also plans to list on the Shenzhen Stock Exchange's ChiNext growth enterprise board.
Kela has converted all of its cash into RMB in preparation for its domestic IPO, including the USD 50 mln investment received in mid-2011 from internet firm Tencent (0700.HK).
Kela and Tencent entered a marketing partnership following the investment, but Wang disclosed that Tencent and other channels account for less than 10% of total traffic.
Kela currently has over 800 employees, including approximately 100 salespeople.
Editor's Note: For more information on this topic, please see "Kela Diamonds Confirms Investment from Tencent," MD 6/21/11 issue.
Keywords: Internet IPO profit revenue B2C Tencent Wang Yong 0700.HK ChiNext Kela e-commerce HR
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