Online Chinese Shoe Store OkBuy.com Raises $17 Million
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
OkBuy.com is an online Chinese shoe retailer company that has raised $17 million in a second round of funding from Intel Capital, Sequoia Capital, and Draper Fisher Jurvetson. The funding will be used to increase their product range and for building a warehouse. The company was founded by Lu Ming.
OkBuy has a couple of stores in Beijing and Guanghzhou. They also plan to set up more stores in the northeast and east in China. They want to have 5 major storage locations by EOY. OkBuy was founded in 2007 and raised $10 million from Sequoia in their first round of funding. OkBuy is considered to be the “Zappos of China.” [VentureBeat]