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Dangdang

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E-commerce China Dangdang Inc.
当当网
Dangdang.com logo
Type of businessPublic company
Type of site
E-commerce
Available inChinese
Traded asNYSE: DANG
HeadquartersBeijing, People's Republic of China
Area servedPeople's Republic of China
Founder(s)Peggy Yu
Li Guoqing
Key peopleYu Yu
(Executive chairwoman)
IndustryOnline shopping
Employees2,907[1]
URLDangdang.com
AdvertisingWeb banner
Launched1999

E-commerce China Dangdang Inc. (Chinese: 当当网), known as Dangdang, is a Chinese electronic commerce company, founded by Peggy Yu and Li Guoqing in 1999.[3] It is headquartered in Beijing and its main competitors are Amazon.cn (or Amazon China, formerly Joyo.com) and JD.com (or Jingdong, formerly 360buy.com). The competition escalated into a price war in December 2010, with each retailer marking down a wide range of items, especially books.[4] DangDang made an IPO on the NYSE in November 2010, estimated at approximately US$1 billion.[3]

Dangdang's main product categories include household merchandise, cosmetics, digital, home appliances, books, audio, and dozens of clothing and maternal and child categories. There are over 10 million new registered customers per year in Dangdang .[citation needed] More than 100 thousand people buy things from Dangdang each day. There are about 30 million people a month browse different kinds of products each month. The monthly sale of goods in Dangdang is over 20 million.

Dangdang sells over 200,000 kinds of books and 10,000 kinds of software and audio products, which make up 90% of the category in China mainland. There are about 3,000 employees in Dangdang, and its customers are among 50 countries, and over 40% B2C customers in China have shopping experiences with Dangdang.[5]

History

  • Nov-1999: Website launched
  • Feb-2000: Dangdang raises venture capital
  • Jul-2001: Daily unique visitors exceed 500,000, Dangdang becomes the busiest books and video store
  • Feb-2004: Dangdang raises a second round of venture capital of $11 million from Tiger Management
  • Apr-2004: Dangdang expands their business to general merchandise, and has sold commodities
  • Jul-2006: Dangdang raises a third round of venture capital of $27 million from DCM, Walden International and Alto Global Investment
  • Oct-2006: Dangdang launches a personalized product recommendation function
  • Sep-2009: Dangdang is the first to introduce mobile device purchasing options in Chinese B2C e-commerce
  • Dec-2010: Dangdang is successfully listed on the NYSE in the U.S.
  • July-2015: Dangdang Chairwoman Peggy Yu and CEO Quoqing Li proposed to buyout the company at $7.81 per ADS, which is less than half of its IPO value and even well below the prior 30 days average stock price. Bloomberg reported that Dangdang's buyout proposal is the lowest among all Chinese ADRs seeking to go private historically. [6]
  • August-2015: Dangdang shareholders widely protested against the $7.81 per ADS buyout offer by its management team and launched a shareholder protest website - dangdangfacts.com
  • May-2015: Dangdang Special Committee approved the management buyout at $6.7 per ADS.
  • August-2015: Many shareholders of Dangdang chose to dissent from the Merger by exercising shareholder appraisal rights according to Cayman Companies Law Section 238.
  • Sept - 2015: Dangdang completes its go-private. Shareholders are tracking all files related to Dissenting shareholders vs. Dangdang case to dangdangfacts.com

References

  1. ^ https://www.google.com/finance?cid=3781006
  2. ^ "Dangdang.com Site Info". Alexa Internet. Retrieved 1 April 2014.
  3. ^ a b Sherman So (27 October 2010). "Dangdang heads for Nasdaq". Asia Times. Retrieved 7 February 2011.
  4. ^ "360buy.com in Price War with Dangdang, Joyo Amazon". Trading Markets. 22 December 2010. Retrieved 7 February 2011.
  5. ^ "Dangdang Current Finance Status". JRJ. 9 November 2011. Retrieved 9 November 2011.
  6. ^ Michael, Santoli (17 July 2015). "Shanghai stock rout invites timely buyout bids for U.S.-listed Chinese firms". Yahoo Finance. Retrieved 17 July 2015.


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