Ashey Xu
Libertyville, IL (USA)
Role(s):
Founder/Owner/Principal
3B Scientific Corp
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Startup
Location:
Libertyville
Industry:
Chemicals
Year Founded:
2004
Number Employees:
100-250 people
Description:
3B Scientific Corporation was founded by Ashley Xu in July 2003 as an S-Corp, and the official operation was not started until June 2004. 3B has been renting a 1000 sq feet office and warehouse in Libertyville, Illinois since June 2004, and has been pursuing the import and export of chemicals for the global pharmaceutical companies, biotech companies, universities and other research institutions in North America, Europe and Asia Pacific.
3B Scientific started investments in China since 2005 by opening two wholly owned subsidiaries in Wuhan in July 2005, and in June 2006, respectively. In Jan 2007, a domestic company, named E-ternity Technologies, was established by Ashley Xu in China, to undertake e-commerce project (the foreign company is not allowed to involve in e-commerce project by the Chinese government), and a software company, wholly-owned by E-ternity, was incorporated in Wuhan in May 2008 to support the e-commerce project and take outsourcing software development projects from China and overseas. Recently E-ternity established a branch office in Shanghai in June 2008.
No outside financing (from PE or VC) and loans (from Banks) were used in business from the beginning to present, initial funds was from Ashley’s personal saving, later investments were from the profit generated by the import and export chemical business.