360buy No. 4 most valuable Internet startup
- By Yan Pei
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China.org.cn, October 13, 2011
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360buy.com was ranked fourth on The World's Most Valuable Internet Startups List. [File photo] |
Chinese online retailer 360buy.com has been named the fourth most valuable Internet startup in the world, according to a list compiled by technology blog Business Insider.
The e-commerce giant was the only Chinese company to make the top five with a valuation of US$10 billion.
Facebook snagged the top spot on the list with a valuation of US$80 billion, up significantly from US$25 billion last year and US$6.5 billion in 2009.
Social games maker Zynga, group-buying website Groupon and Twitter ranked second, third and fifth on the list with valuations of US$11 billion, US$10 billion and US$8 billion.
Two other Chinese companies, e-commerce website Vancl and fashion retailer Xiu.com - also made the list, coming in at 12th and 55th.
360buy.com reported 10.2 billion yuan in sales revenue last year. Based on its previous annual growth rate of over 200 percent, the retail giant may cash in 30 billion yuan this year.
China's business press carried the story above on Thursday.
