E-commerce platforms 360buy wins investment

360buy.com, one of China's most popular e-commerce platforms, received a new round of investment of $400 million from Ontario Teachers' Pension Plan and Tiger Fund, news portal sina.com reported Tuesday.

Sina.com cited sources saying Liu Qiangdong, chairman of 360buy.com, has been in the US since e-commerce price wars started in August, which may be related to the new investment.

360buy.com has not made a profit since its launch in 2007, when it got its first investment of $10 million from venture capital (VC) firm Capital Today, and it has obtained investments of around $1.5 billion from VCs and private equities, Caixin magazine reported in August.

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