360buy to Float in HK or NY by 2011: Founder

360buy.com, a major Chinese B2C electronics and household appliances trading site, is considering going public in either the Hong Kong Stock Exchange or the NASDAQ by 2011, founder Liu Dongqiang said Monday. After securing $150 million in venture capital funding from Tiger Global Management in January, the company said it will build three 100,000 square meter dispatch centers in Beijing, Chengdu and Shanghai in the second half of 2010, by which point it will have four such top grade warehouses plus the one in Guangzhou and 15 to 20 second grade warehouses. 360buy booked ¥4 billion ($1 = ¥6.8) in revenue last year and currently has over six million registered users after enjoying an astounding 300% expansion rate for the past five years. It hopes to rack up ¥10 billion this yea in salesr.