The decision by 360buy, one of China’s largest e-commerce companies, to start preparations for an initial public offering that it hopes will bring in more than $4bn has raised eyebrows as investor sentiment is not exactly friendly towards Chinese internet stocks at the moment.
But one look at the industry it operates in shows that the company needs a big war chest.
Jing Dong Mall, the online department store operated by the company, is the largest independent business-to-consumer e-commerce business in China by transaction volumes.
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