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500.com Limited Enters into Strategic Cooperation Agreement with Yhd.com
|By PR Newswire
|March 27, 2014 09:45 PM EDT
SHENZHEN, China, March 27, 2014 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today announced that it has signed a strategic cooperation agreement with Yhd.com, a leading B2C e-commerce platform for food, beverages and imported food products in China which is owned by Wal-Mart Group, to begin offering the Company's sports lottery products through Yhd.com's extensive e-commerce platform.
According to the terms of the agreement, Yhd.com will begin marketing 500.com's sports lottery products and services. The Company's sports lottery purchase and information services will be made available to Yhd.com's 60 million registered users through its online platform and mobile apps. With its extensive experience in managing online lottery products, 500.com will provide its advanced technology and operational expertise to aid Yhd.com in optimizing its lottery sales service, improving the customer experience, and promoting lottery products and user registrations through various marketing campaigns. 500.com will maintain full control of the product design, development and operation.
Mr. Man San Law, Founder, Chairman and Chief Executive Officer of 500.com commented, "We are extremely proud to strike the first ever agreement between a leading B2C e-commerce company and a leading online sports lottery company. Yhd.com's massive user base will greatly expand the reach of our lottery products. This is another vote of confidence in our future and the attractiveness of our products and business by one of China's largest e-commerce companies. With the World Cup rapidly approaching, I am confident that this mutually beneficial cooperation will strengthen our position as China's leading sports lottery service provider."
About 500.com Limited
500.com Limited (NYSE:WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China. According to iResearch, the Company had the largest market share among online lottery service providers for the first six months of 2013, in terms of the total purchase amount of sports lottery products.
Launched in 2008, Yhd.com has become one of the leading B2C e-commerce companies in China. Offering more than4,000,000 products, Yhd.com runs operation centers in Shanghai, Beijing, Guangzhou, Wuhan, Chengdu,Quanzhou and Jinan along with 200 delivery stations in 40 cities across China. Yhd.com is one of the fastest growing companies in China with over 60 million users and RMB11.5 billion in sales in 2013, and has earned first place for Deloitte Technology Fast500 Asia Pacific and first place for China Entrepreneur Magazine's Future Stars of China Enterprises in 2011. Through innovation, Yhd.com is committed to bringing its customers a new lifestyle of one-stop online shopping and services with superior experience. For more information, please visit www.yhd.com.
Safe Harbor Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
For more information, please contact:
Mr. Christian Arnell
E-mail: [email protected]
Ms. Linda Bergkamp
Email: [email protected]
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