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China's Number 2 Online Retailer JD.com Files For U.S. IPO

January 30, 2014: 12:00 AM EST
China’s second-largest online retailer JD.com filed for an initial public offering of its shares in the United States. Formerly known as 360Buy, JD.com has raised $2.23 billion in the past six years, with notable investors including the Ontario Teachers’ Pension Plan and Saudi Arabia’s billionaire Prince Alwaleed bin Talal’s Kingdom Holding Co. Company founder and CEO Richard Liu controls about 46 percent of the company’s shares. In 2012, local media reports put a $7.3 billion for the company, which has tried to differentiate itself from rival ecommerce companies, including market leader Alibaba, by operating its own network of delivery providers and warehouses.
Aman Shah, "Alibaba rival JD.com files for U.S. listing", Reuters, January 30, 2014, © Thomson Reuters
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