Shanghai. October 10. INTERFAX-CHINA - Guangzhou-based online business-to-business (B2B) operator GlobalMarket.com announced on Oct. 10 that it has merged with two Hong Kong B2B sites, TradeEasy.com and MarketPlace Publications Ltd.

According to GlobalMarket's announcement, the three sites will combine their client lists and human resources after the merger. All three B2B sites sell Chinese products to international buyers.

GlobalMarket, which has 360,000 customers, sells products in the electronics, home decoration and energy categories. TradeEasy serves 350,000 customers and specializes in clothing. MarketPlace Publications sells consumer electronics goods to 190,000 clients.

When contacted by Interfax, Qu Jing, GlobalMarket's marketing manager, said that the companies have not yet decided their share merger plan.

Some Chinese B2B sites, including market leader Alibaba.com, claimed that the global financial crisis negatively impacted their businesses. However, Qu still sees opportunities in the industry. "Our client base in Europe is rising slightly. In the emerging economies of South America, the Middle East and eastern Europe we are seeing a dramatic increase in customers," Qu said.

GlobalMarket's clients currently include General Electric, Carrefour, Home Depot and Auchan.

GlobalMarket was founded in 1995. TradeEasy was launched in 1993 and listed on the Hong Kong Stock Exchange in 2002. MarketPlace Publications was established in 1997.

This April, GlobalMarket received $30 million in funds from Jafco Ventures and NIF SMBC Ventures. According to the company's previous announcement, the money will be used for global expansion.
 

10/10 17:48
Tagged as: E-commerce M&A