Chinese businessman Ning Li is to launch a second arm to his online furniture business, Made.com, according to The Independent. Mr Ling’s new site will be called Made.biz, which will help business customers find office furniture at wholesale prices.
Lastminute.com founder Brent Hoberman is supporting Mr Ning through his investment fund PROfounders Capital and is believed to have provided £2.5m backing. The fund’s bankers include Bebo founder Michael Birch, and Marc Simoncini, who owns Match.com’s European operations.
The Made.com business cuts out the middleman in the furniture business so that customers pay close to wholesale prices for high quality furniture straight from the factory. Following success with this business, which now turns over more than £2m a year, Mr Ning is launching the specialist office furniture venture.
