E-Commerce Website Red Children Completed Financing

In June 24th, Xu Peixin, the B2C e-commerce website red child CEO, said that the red children had basically completed the financing between us $5000 and US $100 million. The investors were the three largest investors in the past, Aurora Borealis, New Enterprise Associates (NEA), Kleiner Perkins Caufield& Byers (KPCB) and another new investor.

When it comes to the listing plan, Xu Peixin said it was not yet disclosed.

According to Xu Peixin, in June this year, red children will launch a A2C mode direct selling website. This website will build a platform where users can see products and stereoscopic fitting through 3D. In April this year, the red child announced that it would complete the financing of 100 million US dollars by the end of the year, and plan to go public in Hongkong or mainland China.

Prior to that, in November 2005, the two investment funds of Aurora Borealis and NEA made the first round of investment for red children, amounting to $2 million 500 thousand.

In November 2006, NEA and Aurora two invested second additional investments in red children, amounting to $3 million.

In June 2007, the KPCBChina Fund (Kai Penghua Ying) signed an agreement with the red child to invest $25 million in red children.