On April 21st, Jingdong tested the waters of the real estate business, selling houses online for twenty percent off the market price.
The news immediately drew a huge crowd of onlookers.
That afternoon, *The IT Era Weekly* broke the story that Jingdong had finalized its underwriters and was preparing to ring the bell for its Nasdaq IPO in the second half of the year.
When Chen Yansen heard the news, he scoffed. He knew perfectly well that Handsome Dong wouldn't be able to go public.
First, Fenzhong Media and Lashou Network had been exposed one after another for data fabrication, causing Chinese Concept Stocks to receive a cold reception in the American Market. Investors were simply not optimistic about them.
Second, American brokerages would give Jingdong a valuation of 6 billion US dollars at most, a far cry from Liu Qiangdong's ideal 12 billion.
