Saudi Prince AlWaleed Lead $400 Million Investment in Chines E-commerce site 360buy
Kingdom Holding Company (KHC), chaired by Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud , led a consortium of investors advised by QInvest LLC, Qatar’s leading investment bank, for the acquisition of a strategic stake in 360buy Jingdong Inc. for the value of $400 Million. The investment by KHC in this deal was approximately $125 Million.
This investment is in line with Kingdom Holding’s diversified ainvestment strategy following Prince Alwaleed and Kingdom Holding’s combined investment of $300 Million in Twitter.
Eng. Ahmed Halawani , KHC Executive Director, Private Equity and International Investments commented in a statement: “This deal is also in line with Kingdom Holding’s private equity investment strategy through selecting high growth companies potentially seeking to be listed in one of the international capital markets within three years. The deal also reflects international companies’ confidence in Kingdom Holding and the strategic role it plays in adding real value to their shareholders base.”
360buy Jingdong Inc. is the largest B2C direct sales e-commerce company in China (source: iResearch). The Company has achieved more than 150% annually compounded growth in gross merchandise volume during past several years and strives to offer the best online shopping experience to its customers. It currently offers more than 7 million SKUs through its B2C direct sales and online marketplace platform. The Company has established nationwide fulfillment capabilities and extensive last mile delivery network to provide superior customer experience. As of December 2012, the Company has six major fulfillment centers with 65 warehouses in 24 cities, as well as nearly 900 delivery stations in 360 cities. Through its 211 program, the Company offers speedy delivery in 23 major cities and 24 hours delivery in 156 cities in China. Their active uses are 35 million and registered users 80 million as of December 2012.