According to local report, Shanda is investing over RMB 2 billion (US$ 309 million) in ecommerce site Pinju.com with two other undisclosed participants. Founded by Ge Binbin, the former head of Goldcool Games, Pinju is set to debut in this Oct. Ge said that Shanda accounts for 40% of the total sum, or US$ 123 million.

Pinju is still under beta testing, the latest comer to the highly crowded and fierce competing Chinese ecommerce market is featuring all kinds of goods ranging from cosmetics, clothes, maternity and baby products, electric appliance, home supplies, health products, 3C products to luxurious brands including Hermes, Prada, Louis Vuitton, Burberry, Armani, Gucci and so on. It seems Pinju is positioned to be an online general store.

It’s known to all that majority of Chinese online shopping sites(except for 360buy, the Chinese B2C giant announced its departure with Alipay because of high commission fee) partner with Alipay, using the latter’s online payment solution, whereas Pinju will feature Shenpay, the online payment offering by shanda. That makes sense, just like Paipai refers its customers to Tenpay, Tencent’s approach to online payment.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Ben Jiang

Listener of startups, writer on tech. Maker of things, dreamer by choice.