In its second-largest acquisition, Amazon buys the company for $970 million.
JQW’s primary business is operating business-to-business e-commerce sites for companies within China.
JQW plc, which operates business-to-business e-commerce sites for companies within China, yesterday launched its first English-language B2B e-commerce site, JQWMall.com, to help Chinese businesses sell to other businesses worldwide.
“The launch of our international B2B e-commerce platform is a significant step in the [JQW] Group’s corporate development and we are pleased that it has been delivered on time and on budget,” says CEO Chen Daocai. “We believe that the commission generated through JQWMall.com will deliver a new source of income for the [JQW] Group and provide increased revenue for our members and JQW as a whole.”
JQW charges sellers on its e-commerce sites a commission based on a percentage of their sales transactions. In addition to JQWMall.com, it operates JQW.com as a domestic e-marketplace for China. It also operates JQW.cn as a B2B search engine.
JQW notes that there are approximately 49 million small and midsized manufacturers in China that make up its targeted based of client sellers, and that most of these companies need a third-party B2B online marketplace to reach customers worldwide. “We are delighted that we can now offer our fee-paying members direct access to the global export market,” Chen Daocai says. He adds that JQW is working to build traffic on JQWMall.com through online marketing campaigns while also optimizing the content on it for global search engine traffic.
Initially, JQWMall.com will focus on signing up as sellers companies “in industries where there is an international price-competitive position and where there are lower barriers for exports,” the company says.
But the site will handle shipments to customers in virtually any market worldwide. “As long as the end user can read English and is reachable by the courier service provider, then the service offered by JQW can be utilized,” a spokesman says.
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