Wu Xiaoguang, senior VP of internet giant Tencent, said yesterday that the company has firmly committed itself to further investment in the logistics industry. Details revealed by a source within Tencent’s e-commerce division suggest that over the coming 5 years, the company plans to put tens of millions of RMB into developing profitable and long-term B2C logistics partners.
Wu said that following a year of investments, mergers and restructuring, Tencent’s e-commerce operations now revolve around its B2B2C e-commerce platform QQ Buy (buy.qq.com), QQ Mall (mall.qq.com), and the company’s B2C & C2C e-commerce platform, Paipai.com. Of those, QQ Buy partners mainly with independent B2C sites, QQ Mall primarily with traditional brands, and Paipai with individual entrepreneurs and small and medium enterprises.
Chinese group buy site Lashou has reportedly begun corporate restructuring, shifting its business model to a lifestyle-focused e-commerce mall format. Lashou has already notified a number of its branch offices of the upcoming changes, according to a so…
As part of its 12th anniversary celebration, Chinese B2C e-commerce site Dangdang is reportedly planning to launch an “Eastern Campaign” price war against rival 360Buy. The exact dates of the campaign, which will will target popular items on 360Buy, ar…
According to figures released by Hangzhou-based C2C & B2C e-commerce site Taobao, China’s online shopping services market had a total scale of RMB 2 bln in 2010. Taobao expects transaction volume to reach RMB 5 bln this year, up 150% YoY, and a total market scale of RMB 12.5 bln in 2012.
The report from Taobao showed that Taobao vendors used e-commerce tools including software applications, outsourced online store management, data analysis, quality monitoring, sales services, photo models, consulting and training services, and HR for supply chain, finance, and legal representation, among other services.
Ma Yufeng, CEO of Shandong-based B2C tea retailer Huaxia Chalian Chaye (Maimaicha.com), announced today that the site recently secured nearly RMB 100 mln in first-round funding from Luxin Venture Capital Group, Shenzhen Capital Group, and two other fir…
Hangzhou-based C2C & B2C e-commerce site Taobao’s group buy site, Ju Huasuan, has offered a group buy deal on RMB 30 mln in loans for Taobao merchants. 500 merchants joined the deal, which includes a 75% discount on interest, in the first ten minutes.
The loans, provided by Alibaba Group’s e-commerce financial services subsidiary Alibaba Financial, are designed to support Taobao merchants. Merchants’ eligibility is assessed based on credit scores determined according to their e-commerce activity, and they are not required to provide collateral.
Hangzhou-based B2C e-commerce site Taobao Mall today announced changes to its merchant management system. Merchants must now pay an advance deposit against any future contract violations, from which at least RMB 10,000 will be deducted and deposited in…
Han Depeng, general manager of Chinese home appliance and consumer electronics retailer Gome’s (0493.HK) online mall, Gome.com.cn, revealed plans last month to have the Gome subsidiary join Hangzhou-based C2C & B2C e-commerce site Taobao’s Taobao Mall e-commerce platform. This follows the earlier partnership between Taobao Mall and B2C consumer electronics site Coo8.com, operated by another Gome subsidiary, Kuba Technology. Han’s time with Gome includes an earlier stint with the company’s Jinan branch.
Coo8 vice president Peng Liang revealed on September 29 that, “Coo8 had RMB 726 mln in sales in H1 2011, and opened branches in 18 cities. Since our purchase by Gome, the number of staff has also risen from 200 to 1,500.”
E-commerce outsourcing provider Guangzhou Yiji Network Technology has obtained USD 20 mln in second-round funding from Trust Bridge Partners, IDG Capital Partners and Hong Kong firm Big Profit.
Guangzhou Yiji Network Technology, established in 2009, provides e-commerce outsourcing services for major brands. Yiji has already entered into strategic partnerships with 20 household appliance manufacturers including Midea, Joyoung, Supor, and Phillips Electronics. At the same time, Yiji has also entered into stable strategic partnerships with several e-commerce platforms including Hangzhou-based B2C e-commerce site Taobao Mall; Tencent’s (0700.HK) B2C & C2C e-commerce site Paipai; Lekutian, a B2C e-commerce platform operated by Chinese internet company Baidu (Nasdaq: BIDU) and Japanese e-commerce retailer Rakuten; Chinese B2C platform Joyo Amazon; and Chinese B2C e-commerce site Dangdang (NYSE: DANG).