Intime commercial venture built O2O business

DoNews, July 8 (Reporter Yu Weiwei) According to Hong Kong "Letter" reported that Intime Commercial Group announced that it will jointly invest with investors for the development of O2O business. Pursuant to the Subscription Agreement, Zhang Yong, Chief Operating Officer of Alibaba Group, has been appointed as Intime Non-executive Director with effect from July 7, 2014.

Intime Business said the formation of O2O joint venture, Intime Business and investors will inject 19 million yuan and 80.1 million yuan equivalent respectively, accounting for 19.9% ​​and 80.1% of the issued share capital of the joint venture for the development of shopping malls, Department stores and supermarkets related O2O business.

In addition, according to Intime Commercial Personnel Change Notice, Zhang Yong has been appointed as Intime Non-executive Director since July 7, 2014 with effect.

March 31 this year, Alibaba announced the strategic investment of 53.7 billion Hong Kong dollars Intime Group. June 5, Intime Group Chairman Shen Guojun revealed to the media, Ali and Intime plans to set up joint venture platform companies, services, including Intime Network, Alibaba business companies and other third-party e-commerce website.

Data show that Zhang Yong since September 2013 as Alibaba Group Chief Operating Officer. In June 2011, when Lynx became an independent platform, Zhang Yong was appointed as Lynx's president. From August 2007 to June 2011, Zhang served as chief financial officer of Taobao and general manager of Tmall. In addition, Zhang Yong has also served on the Sina Weibo board of directors. (Finish)