Milanoo.com Acquires Multi-Million Dollar Investment from Sequoia Capital
BEIJING, April 22, 2011 /PRNewswire-Asia/ -- Sequoia Capital, a U.S.-based investment firm with capital holdings around the world, has partnered with China-based retailer and wholesaler Milanoo.com by making a multi-million dollar investment into Milanoo.com's business operations fund. According to CEOs with both entities, the invested funds will be used to strengthen the company's product supply system, optimize the online shopping platform and to attract new talent to the company's team of business and marketing professionals.
Sequoia Capital recently added Milanoo.com to its impressive list of investment partners after pledging a multi-million dollar investment to the Chinese retailer and wholesaler. Milanoo.com says the investment will allow the company to make improvements to its business plan, which will allow Milanoo.com to provide its customers with better products, lower prices and a more enjoyable shopping experience. Since its inception in July of 2008, Milanoo.com has grown by leaps and bounds. Milanoo.com has consecutively increased its revenue by 600% each year that the company has been in business. In three short years, Milanoo.com has grown to serve customers in over 180 countries around the world in seven of the most popular languages – including English, Spanish and French.
To keep up with that growth, Milanoo.com regularly implements changes to both its business plan and its website to ensure the continued success of the company based on continued customer satisfaction. One of Milanoo.com's current expansion projects is exploring opportunities with additional Chinese apparel manufactures and brands to guarantee sufficient stock, diversity and quality of products. Further, Milanoo.com's design and technical team are continuously working for better versions of the company website, based on customer feedback and historical data analysis.
In recent years, B2C ecommerce business in China has grown dramatically and Milanoo.com has been on the forefront of that growth. Sequoia Capital believes there are great opportunities in both B2C business in China and Milanoo.com. Market researchers believe one of the biggest reasons for this is that consumers today have stronger a brand awareness than ever before. Merchants who strive to accommodate that brand awareness with a variety of products stand to gain the most from the B2C boon. Milanoo.com plans to be in on that boon and is concentrating all its efforts on ensuring the company's spot on the top ranked B2C businesses in the world.
About Sequoia Capital
Sequoia Capital provides venture capital funding for start-up companies around the world. The Wall Street Journal has called Sequoia Capital "one of the nation's highest-caliber venture firms", and noted that it is also "one of Silicon Valley's most influential venture capital firms". The New York Times has said Sequoia is "among the most successful venture firms in Silicon Valley." It is estimated that 19% of the NASDAQ's value is made up of firms Sequoia has funded. Among the companies Sequoia Capital has funded are Apple, Google, YouTube, PayPal, Yahoo!, NVIDIA, Atari, LinkedIn, Meebo and Green Dot. The firm has offices in the U.S., China, India and Israel.
Milanoo.com is one of the Internet's premier merchants of wholesale fashion apparel. Milanoo.com is a leading supplier of fine jewelry, Cosplay items and wigs as well as women's lingerie, formal wear, wedding attire, shoes and handbags. Milanoo.com's inventory also includes men's fashion and accessories, bedding, kids' clothing and toys, housewares and yoga essentials.
Milanoo.com offers a variety of convenient payment options including PayPal, Western Union and wire transfers and ships to worldwide destinations through reliable parcel delivery services like DHL and UPS. To ensure complete customer satisfaction, Milanoo.com representatives are available 24 hours a day via live chat on the website.
Milanoo Website: http://www.milanoo.com/
Milanoo Brand Center: http://www.milanoo.com/Brand/