Jennifer Yan,Senior Investment Director of Steamboat Ventures under Disney,confirmed on Oct.24 that the company,partnering with Morningside,has invested US 10M in Shangpin.com,a luxury shopping website at home.This was the second round of financing received by Shangpin.com that was launched in May 2010.
Jennifer Yan said,the investment was made because they are optimistic about both Shangpin.com's innovative mode in which the new media with SNS community features is combined with e business and the future of luxury goods consumption at home.
Zhao Shicheng,CEO of Shangpin.com,said,the company will beef up effort in such aspects as brand expansion,team construction,market promotion,after sales service and logistics distribution following the investment.
Shangpin.com's main businesses include two parts construction and operation of credit card websites for several big sized banks and luxury goods sales.
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