Warburg Pincus and CICC-Qianhai have jointly invested US$100 million in Chinese e-commerce player WSmall.com, according to Chinese media reports.
CICC-Qianhai was an investment entity established by China International Capital Corporation Ltd., Shenzhen Qianhai Financial Holdings and Industrial and Commercial Bank of China in 2014.
Founded in 2009, WSmall.com combines e-commerce and entrepreneurship by aggregating over 10,000 small merchants on its platform and providing them with customized services on branding, customer service and marketing.
Based on a B2B2C business model, WSmall.com aims to provide users better experiences and also offers its own branded products. The e-commerce platform focuses on daily consumer goods, cosmetics, healthy foods, baby and pregnancy products.
Hangzhou-based WSmall.com, which operates its ...
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