Walmart Invests in China’s 360buy.com: Report

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Walmart invested in Chinese e-retailer 360buy.com, in a further indication of its interest in the developing nation's expanding online consumer base, the Financial Times reported Tuesday.

The US retail giant -- the world's largest, by sales -- was joined by five other companies taking a stake in China's biggest purveyor of web-based consumer electronics, which raised $500 million in the funding round.

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Walmart already has roughly 300 stores in China and launched an online retail presence for its warehouse retailer Sam's Club there last month.

Read more: http://www.ft.com/cms/s/0/c32f8dac-11cb-11e0-92d0-00144feabdc0.html

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