Domestic B2B e-commerce operator JQW went public on the Alternative Investment Market (AIM) of London Stock Exchange on December 9 at a valuation of 1.4 billion yuan ($229.10 million) to raise 350 million yuan of funding (report in Chinese).
The capital will be used to develop a mobile platform, as well as establishing a financial and trading platform to bring its existing users to an international audience. In addition, marketing and advertising programs will be launched to attract international members and promote the Group’s fee Chinese paying members to a global market.
JQW provides small and medium-sized Chinese business an online platform to advertise their products to other businesses.
The Yangzhou-based company was founded in 2004 and now ranked as second most popular Chinese B2B e-commerce destination by web traffic this July, next only to Alibaba, according to data from a research institution iResearch. It claimed more than 10 million registered users and over 9 million of merchants.
JQW hosts more than 500,000 sales a month through its site which generated 74.5 million yuan in the first six months of 2013. In June this year, the company reported profits of 70.8 million yuan for the year to date.
image credit: 21CN