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DST Group Invests in China

Yury Milner and Alisher Usmanov's DST Group, along with other investors, have invested "hundreds of millions of dollars" in major Chinese online retailer 360buy.com, the Financial Times reported Wednesday.

The newspaper described the project as a "Chinese Amazon." It was founded by Qiangdong Liu in 2004. This is the third round of financing for 360buy.com. Previous investors include the American retailer Wal-Mart, which invested $500 million in the Chinese web site in December.

(MT, Vedomosti)

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