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Chinese company to have biggest Web IPO ever?

Chinese Online Retailer Hopes to Raise Up to $5 Billion in U.S.

2:37 am on Sep 20, 2011 (gmt 0)

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The Biggest IPO You Haven't Heard Of [online.wsj.com]

A Chinese company few Americans have heard of is gearing up for what could be the largest Internet IPO in U.S. history.

The company, Beijing Jingdong Century Trading Co., runs 360buy.com, a fast-growing online-shopping site that sells a broad range of goods, mostly direct to consumers, much like Amazon.com Inc. This business-to-consumer part of China's online shopping market is expected to expand more than fivefold to 650 billion yuan ($100 billion) over the next three years, according to Beijing-based research firm Analysys International.

Jingdong hopes to raise as much as $4 billion to $5 billion from an initial public offering in the first half of 2012, people familiar with the situation said last week. If it succeeds, it would overtake Google Inc., whose $1.9 billion IPO in 2004 makes it the current record holder for Internet companies.
6:38 am on Oct 30, 2011 (gmt 0)

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Awesome news, the current set of "big players" in the U.S. needs some stiff competition to stay focused on innovation and not continue to attempt to be monopolistic.

All eyes open, show us what you've got Jingdong.