Dunhuang.com will launch mergers and acquisitions this year to plan overseas IPOs within 3 years
The online foreign trade B2B e-commerce site Dunhuang has recently completed the third round of financing. Yesterday, Dunhuang CEO Wang Shutong revealed to reporters in Shanghai that a world-renowned PE (private equity investment) company has completed a large-scale investment with a scale of tens of millions of dollars. This is by far the largest investment in B2B transaction types.
In 2004, Wang Shutong, who successfully founded Joyo.com, established Dunhuang.com, an online foreign trade platform. Since then, Dunhuang.com has obtained two rounds of risk from KPCB, JAFCO and other institutions in 2006 and 2007 investment. Wang Shutong revealed that this time, led by the world-renowned PE, the above two institutions have also followed up with investments again. The overall financing scale of Dunhuang.com will exceed RMB 300 million.
According to Wang Shutong, the financing purpose is mainly used in three aspects, one is to expand the website scale, increase the server investment in hardware, and the second is to optimize network processes, increase software investment, and improve customer experience. The most important use of funds will be mergers and acquisitions in related industries. Wang Shutong revealed that the current acquisition target has been locked in the field of network value-added services, such as emerging logistics companies.
Wang Shutong said that in the process of contact with the PE, Dunhuang.com has already clarified the 1-3 year listing plan. "Since considering that buyers are mainly overseas customers, they will prefer to list overseas." Wang Shutong said.
The profit model of Dunhuang.com is to charge commissions to buyers. It is understood that in December 2007, Dunhuang Network has broken through the breakeven line, and the transaction amount in 2009 exceeded 2.5 billion yuan.
Wang Shutong said that commission charges based on successful transactions are only a means of charging Dunhuang.com, and Dunhuang.com is currently developing advertising fees and value-added service revenue. But she said that Dunhuang will not consider entering the B2C market for the time being.
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