In its second-largest acquisition, Amazon buys the company for $970 million.
Selling online since 2005, the wholesaler features products from more than 5,000 suppliers.
The opportunities to buy online from manufacturers in China keep growing.
JMWant, a China-based business-to-business e-marketplace that sells consumer products including apparel and consumer electronics, is re-focusing its efforts to appeal to business buyers outside of its home country—and particularly to small and midsized retailers in the United States, CEO Michael Luo says.
Luo says JMWant will act as a “collective purchasing” agent for small and midsized foreign buyers to help them get better prices from suppliers in China.
"Chinese consumers enjoy cheaper, better products brought about by a leaner distribution pattern," Luo says. "We believe there is a way to extend the benefit even further to outside China.” He names the United States as JMWant’s “first stop of market development,” without providing more specifics.
JMWant.com is set up to let merchants browse among products, place orders with suppliers, and list those products on a merchant’s own e-commerce site or on e-marketplaces like eBay.com and Amazon.com. Once items are purchased by a merchant’s own customers, JMWant provides fulfillment services that pack and ship the orders to consumers.
JMWant also notes that it recently introduced more than 3,000 new products for the current summer shopping season. Its home page, on JMWant.com, today features a mix of items including Bluetooth wireless headphones, car-mounted night-vision camera/recorder devices and bicycle helmets.
JMWant is among several China-based B2B e-commerce companies offering to connect merchants with suppliers based in China, including JQW, DHGate.com, Yiwubuy and Alibaba.com.For a free subscription to B2BecNews, click here.