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SHANGHAI,
China - October 10, 2007 - China
Business Exchange (www.cbe.com.cn),
China’s pioneer in online
small business and commercial property
listing services, today announced
the closing of its Series A investment
led by CSV Capital Partners (www.csvcp.com).
The Series A funding allows CBE
to establish a stronger sales presence
in Beijing, Shanghai, and Guangzhou;
extend its range of services; and
further support its customers throughout
China.
“Small
business exchange is a relatively
new but fast growing market in China
and CBE is the clear leader in providing
listing and transaction services,”
said Mr. Michael Liao, principal
of CSV Capital Partners. “CBE’s
clear lead and strong reputation
is due to its high asset quality
and selection, good service, and
a thorough understanding of the
needs of small business owners in
China. The founders bring to the
company many years of experience
working with small businesses and
truly understand what drives buyers
and sellers in this market.”
Allan
Sirotkin, co-founder and CEO of
CBE said, “CSV Capital Partners
strongly supports its entrepreneurs.
We choose to work with CSV Capital Partners for its demonstrated track
record in helping early stage ventures
mature through both strategic vision
guidance and operational value-add.”
CBE’s
services include an online platform
to list information on small businesses
or commercial property being sold,
and an offline brokerage service,
providing sellers or buyers legal,
financial, and consulting services.
The company has listed over 450,000
business and properties on their
nationwide website, with 32,000
business and properties confirmed
sold as a result. CBE is headquartered
in Shanghai, with additional sales
offices in Beijing and Guangzhou,
and distributor networks in numerous
other cities.
“The
small business exchange market is
booming, from less than 2 million
transactions in 2001 to over 9 million
transactions in 2006,” reported
Johnston Zhook, CBE’s co-founder
and General Manager. “I’m
proud that CBE contributed to this
growth through setting up China’s
first online listing platform. CSV’s investment will allow
us to establish presence in even
more cities and roll out further
services so that we continue to
be the leader in this market and
help direct its growth.
In
connection with CSV Capital Partners’
investment, Michael Liao will join
CBE’s board of directors,
along with founders Allan Sirotkin
and Johnston Zhook.
About China Business
Exchange
Founded
in 2004, China Business Exchange
combines an online listing platform
with offline brokerage services
to offer entrepreneurs a complete
solution to entering or exiting
existing businesses. CBE is China’s
pioneer and leader of online business
and property listing services with
the most listings and highest traffic
in China. Headquartered in Shanghai,
it has sales offices and distributors
in 13 cities.
For more information:
www.cbe.com.cn
About CSV Capital Partners
CSV Capital Partners (CSV) is a private
equity firm targeting early-stage growth capital investments
in emerging companies with significant
operations in Greater China.CSV's
partners combine extensive private
equity, operating and China market
experiences to assist entrepreneurs
in creating industry-leading companies.Headquartered
in Shanghai, CSV offers access to
high quality partners in Asia and
the United States and an extensive
network of resources to support
its portfolio companies.
For more information:
www.csvcp.com |