E-commerce China Dangdang Inc is a Chinese electronic commerce company. It was founded by Peggy Yu and Li Guoqing in 1999 and is headquartered in Beijing. DangDang made an IPO in November 2010, estimated at approximately $1 billion.
Dangdang's main product categories include household merchandise, cosmetics, digital and home appliances, books, audio, and dozens of clothing categories. There are about over 10 million new registered customers per year in Dangdang. More than 100 thousand people buy things off of Dangdang each day. There are about 30 million people a month who browse different kinds of products and the highest sale of goods in one month was over 20 million.
Dangdang's mission is to provide the customers with choices and discounts so that they can enjoy the low-cost and convenience of online shopping.
Currently, Dangdang is selling over 200,000 kinds of books and 10,000 kinds of software and audio products, which make up 90 percent of the category in China mainland. There are more than 1,000 employees in Dangdang and its customers reside in 50 countries with over 40 percent of business-to-consumer (B2C) customers residing in China.
History
1999.11 Website opens 2000.02 Dangdang gets the first venture capital
2001.07 Daily visitors (unique visitor) rise to beyond 500,000 and Dangdang becomes the busiest yet for books and video shopping
2003.04 During the "SARS" epidemic, Dangdang keeps up with high-speed operation and wins the honor of "best online shopping website of China"
2004.02 Dangdang gets a second round of venture capital ($11 million) from Tiger Fund Investment 2004.04 Dangdang expands their business to general merchandise
2006.07 Dangdang gets the third round of venture capital ($27 million) from leading venture capital firms DCM, Walden International and Alto Global Investment
2006.10 Dangdang's personalized product recommendation function is formally launched
2009.09 Dangdang introduces a revolutionary mobile phone purchasing function. In the domestic B2C e-commerce, this is the first case
2009.09 Dangdang's personalized product recommendation function (2.0) launches 2010.12 Dangdang is successfully listed on the New York Stock Exchange (NYSE) in the US.
