139SHOP.COM PLANS TO GO NASDAQ WITH USD40MN OF VC
AsiaInfo Services, February, 2007
AsiaInfo Services 02-16-2007 139shop.com Plans to Go Nasdaq with USD40mn of VC SHANGHAI, Feb 16, 2007 (SinoCast via COMTEX) -- The 139shop.com, China's leading mobile phone Internet portal as well as the largest in Asia, got venture capital of more than USD 40 million and planned to go public on NASDAQ in the United States. The venture capital was from American renowned VC firm Highland Capital Partners and IDGVC Partners, also a US-based VC player. The Chinese Internet portal is dedicated to the B2B and B2C businesses of mobile phones.
Its B2C division, with more than 1 million registered users, sells out more than 60,000 mobile phones each month, said a source with the company, surnamed Luo. Owing to the existing immature online purchase in China,...
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