I've been watching Guanggzhou-based GlobalMarket for almost five years, like the company but have, until now, been a bit disappointed by its failure to keep pace with Global Sources and Alibaba.com. I was, therefore, very interested to see the report in the People's Daily online noting that Nasdaq-listed Ninetowns Digital World Trade Holdings has invested $5 million for 16.25% of the business.
The report quotes Ninetowns' CEO Wang Shuang saying that "the firm will seek to increase its investment in GlobalMarket in the future as part of its Internet-oriented transformation".
See here for PR Newswire's distribution of Ninetown's press release.
Friday, September 08, 2006
Finally, some action from GlobalMarket
Posted by Paul Woodward at 8:17 am
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment