Peggy Yu

Peggy Yu
Born	1965 Chongqing, China
Occupation(s)	Entrepreneur, business executive
Known for	Co-founder and chairperson of Dangdang.com

Peggy Yu, also known as Yu Yu (; born 1965), is a prominent Chinese entrepreneur and the co-founder and chairperson of dangdang.com, recognized as China's leading online bookstore.

Early life

Yu was born in Chongqing, China. She completed her education at Beijing Foreign Studies University and began her career as an interpreter and secretary at Babcock & Wilcox Beijing Company Ltd. In 1987, she relocated to the United States for further studies and obtained an MBA from New York University in 1992, where she was honored with the opportunity to deliver the commencement address. Yu spent a decade working on Wall Street. In 1996, she met Li Guoqing, a publisher, whom she married shortly thereafter.

Career

Inspired by her experience with Amazon.com during her time in the US, Yu and her husband founded Dangdang in 1999 as an online bookstore. Serving as chairwoman, Yu guided the company’s growth beyond books to include categories such as home furnishings, apparel, jewelry, beauty products, DVDs, and films, ultimately offering an inventory exceeding six million items.

On July 9, 2015, nearly five years post Dangdang's IPO on the New York Stock Exchange, Yu proposed taking the company private through a $630 million buyout bid—valued at less than half of its initial public offering price. The proposed $7.81 per ADS was the lowest among Chinese ADRs attempting privatization and represented a 20% discount compared to the previous 30-day average trading price.

This buyout faced resistance from shareholders who initiated a shareholder activism platform, dangdangfacts.com, alleging that Yu's offer disadvantaged minority investors unfairly.

External links

• dangdang.com