360buy.com sets sights on $2b US IPO

The owner of Chinese site 360buy.com is now hoping to raise at least $2 billion in an initial public offering (IPO) in the US by 2013 or later.
The website’s chief executive officer has dropped the hint amid the wave of Chinese Internet companies who have been going public in recent months.
A $2 billion dollar IPO would be big, even by the standards of recent Chinese listings.

360buy rival Dangdang only raised $272 million from investors ahead of its December listing on the New York Stock Exchange.

Founded in 2004 with a business model similar to Amazon.com, 360buy sells a broad range of products, such as electronics and cosmetics.

Posted by on May 18, 2011. Filed under Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry