JD.com Inc., formerly 360Buy Jingdong Inc., will begin trading on the NASDAQ today — Unsurprisingly it goes public ahead of Alibaba Group. The IPO price is set at $19 per ADS and the company will raise $1.78 billion in the offering.

Chinese tech giant Tencent gained a 15% stake in JD.com through a deal the two companies announced earlier this year. Tencent will buy 5% more of JD at IPO price thus it will be the second largest shareholder in the company, only after JD founder Richard Liu.

Now JD.com owns the business-to-customer and customer-to-customer marketplaces that failed to gain traction when under Tencent, and a minority stake in Yixun, the online retailer Tencent invested in. JD has the right to fully acquire Yixun later.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com