Facebook investor joins funding round for 360buy.com: report (Reuters)
BANGALORE (Reuters) – Slavonic cyberspace assets assemble Digital Sky Technologies, an investor in social network consort Facebook, has connected a assemble of investors resource hundreds of millions of dollars to 360buy.com, China's maximal online retailer, the Financial Times reported.
The Financial Times said the welfare in 360buy underlines the vast opportunity for online mercantilism in China, digit of the maximal and fastest-growing internet markets.
DST and 360buy could not be reached for comment.
360buy, which was founded in 2004, has been described as the Amazon.com of China, the regular said.
DST already owns large stakes in some of the most flourishing US internet companies, including Facebook, Groupon and Zynga.
Wal-Mart Stores Inc, the world's maximal retailer, was digit of sextet strategic partners who endowed a total of $500 meg in 360Buy in December.
(Reporting by Megha Mandavia; Editing by attorney Feast)
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