360Buy is a Beijing-based quick-delivery shopping site often likened to a mashup of Amazon and Fresh Direct and is China’s second-largest e-tailer after Alibaba. The company focuses on rapid online retail and has been building significant cash reserves through consecutive financings. CEO Richard Liu said proceeds will be used for strategic investments while the company remains focused on profitability. After the latest round 360Buy reports current cash flow of 15 billion yuan and a valuation of about $7.25 billion, up roughly 20% from $6 billion. The firm plans to deploy funds into IT, its cloud-computing network, and logistics to accelerate delivery capabilities and better compete with Alibaba. 360Buy raised $400 million only three months earlier, giving it flexibility to delay an IPO though some investors favor public offerings within a few years.

Total raised

$700M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2013