According to Liu Qiangdong, chairman of the Chinese B2C e-commerce platform 360buy.com, the company is expected to realize annual sales of over CNY4 billion in 2009.
In 2010, 360buy.com will launch its IPO and the company's sales will be increased to CNY10 billion during the year. In regards to where it will be listed, Liu told local media that by the corporate structure of 360buy.com, Nasdaq will be the first choice.
During recent years, 360buy.com has maintained rapid development. It claims to currently receive over 25,000 online orders every day. Due to the surge of business, its distribution and background systems have become the bottleneck for the development of the company and the throughput rate of 360buy.com's call center is only 50%.
Liu said 360buy.com is increasing its investments in distribution to meet the demand. Its new national customer service call center has recently been established in Suqian, Jiangsu province. This call center now has 150 seats and the number will be increased to 400 by 2010.
At present, 360buy.com has launched distribution services in 24 cities around China, providing cash on delivery service to consumers. By 2010, this service will be available in 300 cities.