Top Alibaba rival files for $1.5B IPO

While investors continue waiting for Alibaba's (ABABA) IPO filing, #2 Chinese e-commerce firm has filed for a $1.5B IPO. No symbol has been proposed yet. BofA/Merrill and UBS are underwriting. (F-1) claims it's "the largest online direct sales company in China in terms of transaction volume;" Alibaba, by contrast, typically acts as an eBay-like middleman. The company claims to have 35.8M active customer accounts, and a fulfillment infrastructure that includes 82 warehouses and 1,453 "delivery stations."

Over the first nine months of 2013, had revenue of $8.04B (+71% Y/Y), and net income of $10M. Gross margin was just 9.8%. The IPO filing follows a stellar 2013 for Chinese Internet stocks.

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Comments (1)
  • samuel_liu
    , contributor
    Comments (2753) | Send Message
    JD rocks!


    Admittedly not as great as Tmall, but then paying COD or after 1st inspection at a distribution centre ain't shabby!!


    I don't have a Cn-issued credit card, which Tmall (like EBay's Paypal) accepts payment.
    30 Jan 2014, 10:18 AM Reply Like
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