2nd Largest Chinese E-commerce Firm JD.com Raises $2.5 Billion for JD Logistics
JD.com, the second-largest Chinese e-commerce firm, has raised $2.5 billlion for its logistics arm, JD Logistics. The $2.5 billion funding was led by Hillhouse Capital, Sequoia China, China Merchants Group and Tencent, and will be invested into automation, drones and robotics. The financing is expected to close in the first quarter of 2018 and JD.com will remain the majority shareholder of JD Logistics with 81.4% stake.
” JD.com raises $2.5 billion for JD Logistics to invest into automation, drones and robotics “
In 2014, JD.com became publicly listed on NASDAQ with a market value of more than $26 billion. In 2018 February, JD.com is trading above $60 billion in market value, more than twice its IPO price. JD.com is China’s largest online retailer and its biggest overall retailer, as well as the country’s biggest Internet company by revenue. It has more than 266 million annual active customers, 405 warehouses and $37.5 billion revenue in 2016. The company was founded in 2004 in Beijing by CEO, Richard Liu.
JD.com (NASDAQ:JD) is China’s largest online retailer and its biggest overall retailer, as well as the country’s biggest Internet company by revenue. The company was founded in 2004 in Beijing by CEO, Richard Liu.
Richard Liu is the founder of JD.com and Joybuy.com, China’s largest online retail sales company, and has been its Chairman and CEO since the company’s inception. Mr. Liu has over 15 years of experience in the retail and e-commerce industries. In June 1998, Mr. Liu started a business in Beijing, primarily engaged in the distribution of magneto-optical products. In January 2004, Mr. Liu launched his first online retail website. He founded the company that eventually became JD.com later that year and has guided the company’s development and growth since. Mr. Liu earned his Bachelor Degree in Sociology from Renmin University (Beijing, China) and an EMBA degree from the China Europe International Business School.
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