Caixin
Sep 13, 2018 07:44 PM
BUSINESS & TECH

Online Pharmacy’s Founders Unfazed by Disappointing IPO

Yu Gang (right) and Liu Junling (center right), co-founders of the online-to-offline pharmacy 111 Inc., pose for photo at their company’s trading debut on the Nasdaq on Wednesday in the U.S. Photo: 111 Inc.
Yu Gang (right) and Liu Junling (center right), co-founders of the online-to-offline pharmacy 111 Inc., pose for photo at their company’s trading debut on the Nasdaq on Wednesday in the U.S. Photo: 111 Inc.

The co-founders of one of China’s early e-commerce hits are optimistic that their online drugstore will be the next big thing as the country’s health care market liberalizes, even after their shares dipped on their Nasdaq debut.

Shares of 111 Inc., which operates an online drugstore and clinic, as well as offline pharmacies, closed down 1.43% at $13.80 on its trading debut Wednesday, below its initial public offering (IPO) price of $14.

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