Warburg Pincus Leads Third-round Investment to DHgate.com with RMB200M
Warburg Pincus ("WP"), a leading PE investor, made a joint announcement with DHgate.com on Mar. 24 that the two sides had signed an agreement on long-term strategic cooperation. DHgate.com has received about RMB200M in a third-round investment led by WP. The other two investors, KPCB China and JAFCO Asia, also participated the previous two rounds of investment.
Wang Shutong, founder and CEO of DHgate.com, said that an explosive growth of online foreign trade market is just at the door now. It is estimated that the turnover of the foreign trade online will reach RMB10B in 2010. The figure may surge to US$10B in the coming three years.
DHgate.com had completed two rounds of investment with investors including some globally recognized institutions, such as KPCB China and JAFCO Asia. The investment from WP plus the funds received in the previous two rounds totals nearly RMB300M. After this round of financing, DHgate.com plans to strengthen its leading position on the market by realizing large-scale growth of buyers and sellers, enhancing customer experience and launching customized value-added services.
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