Alibaba Competitor JD.com Launched a Crowdfunding Platform

By: Alyson Wyers - Apr 8, 2015
References: ir.jd & techcrunch
JD.com, a smaller but formidable rival of Alibaba, just launched an equity crowdfunding platform for new ventures. Intending to encourage entrepreneurship in China, the e-commerce site created JD Equity Crowdfunding to help startups acquire capital as an offshoot of the crowdfunding site JD.com established last summer (Coufenzi).

JD Equity Crowdfunding was developed specifically with entrepreneurs who need early-stage investors in mind, differentiating this offering from the Kickstarter-like Coufenzi. With JD.com's resources -- JD Cloud, financing tools, management training, marketing support and venture capital partnerships -- the Chinese crowdfunding site is already the largest (although not the first). Looking forward, the entrepreneur-motivating platform hopes to create "a complete ecosystem for startup companies" according to a JD.com spokesperson. Startups hoping to get involved will be pre-screened.