Entrepreneurs in China’s booming e-commerce businesses are cautious about overexpanding on the capital market, for most of them have wrapped up a third-round funding in the past six months. Seeking an initial public offering (IPO) is not an end to pursue but “a natural outcome”, as the country’s online retail businesses grow mature at a fast but steady pace, industry insiders said at the 2011 E-Commerce Industry Summit in Shanghai on Tuesday.