IDG Capital invests $40 million in Chinese e-commerce solutions firm
IDG Capital Partners, a China-focused venture capital firm, has made another investment in the mainland's rapidly growing e-commerce sector, infusing $40 million in leading foreign-trade e-commerce solutions provider BizArk.
The capital is expected to help BizArk drastically expand its operations, off the back of company founder Zhou Ning's public announcement that BizArk has ambitions to become China's second Alibaba.com, the market's far-and-away leading e-commerce player. Zhou added that the field of foreign-trade B2C transactions is expected to be the sector's newest hot-spot in the next three to five years.
The Nanjing-based investee has more than 400 employees. BizArk provides all-in-one e-commerce solutions and services for online stores, specifically specializing in website construction, network marketing, website monitoring and security and support services.
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