Sequoia China has bought the majority stake in online marketing firm MecoxLane for more than $80 million.
This acquisition will reportedly be Sequoia’s largest investment and first buyout transaction to date.
Founded in 1996, MecoxLane was one of the first government certified direct marketing firm in China. In 2000, the company launched online shopping site m18.com, through which the compny sells apparel and home cosmetics and other consumer products.
According to president Guichun Gu, the company has been growing at more than 50% each year since 2002.
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