China e-commerce site ihush raises $43 mln in funding: report

Reuters News
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Posted: Jun 23, 2011 4:33 AM

SHANGHAI (Reuters) - Chinese e-commerce website ihush.com has raised $43 million in venture capital funding to improve customer service and expand its user base, local media reported on Thursday.

ihush.com, which sells branded consumer items online during a fixed time window, counted Matrix Partners China as an investor from the round of fundraising, Tencent's technology news website reported.

ihush.com could not be reach for comment.

Private equity and venture capital firms looking for the next set of Chinese Internet stars are looking into the mainland's social, mobile and luxury e-commerce sectors, as the cheap tablet boom and rising consumer confidence takes hold.

(Reporting by Melanie Lee; Editing by Chris Lewis)