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Dangdang Receives US$30M Funding
Tags: DCM, Dangdang, Doll Capital Management, IDG, Internet, Li Guoqing, Luxemburg Cambridge, Peggy Yu, Softbank, Tiger Technology Fund, Walden International, e-commerce,
Chinese online retailer Dangdang has sold a 12 percent stake in the company to four investors including Doll Capital Management (DCM) and Walden International for US$30 million earlier this week, reports qq.com. Dangdang brand promotions manager Yin Li confirmed the deal but did not offer any more details. Dangdang's existing shareholders include IDG, Tiger Technology Fund, Softbank and Luxemburg Cambridge. The report said that before this new deal, Dangdang founders Li Guoqing and Peggy Yu held 41 percent of the company.
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