The next morning, Jingdong officially announced on its Weibo account that it had completed a 400 million US Dollar Series D financing round, with a valuation exceeding 8 billion US Dollars.
This move was a counterattack against Li Guoqing's claim that "Jingdong's capital chain is about to break and won't last until October." It was also a slap in the face to the brokerages on Hong Kong Island and in the Lighthouse Country that had valued Jingdong at 6 billion US Dollars. Furthermore, it served to boost the capital market's confidence in the company.
Liu Qiangdong followed up shortly after, declaring on his personal Weibo account that Jingdong would pour a billion into promotional subsidies, increasing its investment in Singles' Day to provide users with high-quality, affordable digital and home appliances.
