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2.The fact that Fab had raised＄172 million a year after launch partly accounts for why it was regarded as an E-commerce startup.

3.In 2012，Marc Andreessen named Fab as one of the next three big breakthrough companies and called it an“e-commerce category killer.”

4.In 2012，investors were won over by the fast-growing metrics of Facebook and Yelp.

5.Goldberg used to flaunt the growth numbers of Fab at every opportunity and paid little attention to the path to profitability.

II.Answer the following questions.

1.What adjective do you think is a proper word for the description of both the rise and the fall of Fab？

2.Why does the author mention that the story of Fab is pretty incredible？

3.How long did it take for Fab to reach 2 million users after launch？

4.What was the situation of Groupon，Gilt Groupe and LivingSocial like in 2012？

5.What lesson can we learn from the story of Fab？

I.Match the words and expressions on the left with the explanations on the right.

1.pre-money valuation　　　a.income，esp.the total annual income of the State from taxes，etc

2.ditch　　　b.intelligent and able to think quickly

3.burn rate　　　c.money or goods received as a right in addition to one's pay；perquisite

4.revenue　　　d.speak or write（words taken from a passage，a book，an author，etc）；quote

5.multiple　　　e.the amount of data sent and received by visitors to a web site

6.cite　　　f.the difference between revenue and cost before accounting for certain other costs

7.site traffic　　　g.narrow channel dug at the edge of a field，road，etc，esp.to hold or carry off water

8.gross margin　　　h.a term widely used in private equity or venture capital industries，referring to the valuation of a company or asset prior to an investment or financing

9.perk　　　i.quantity which contains another quantity an exact number of times

10.razor-sharp　　　j.negative cash flow；a measure for how fast a company will use up its shareholder capital

II.Determine the exact meaning of each of the underlined words and translate each sentence into Chinese.

1.The man said that he was a mind reader，but he was shown up a fake.

2.The detective put a chemical on the paper，and the fingerprints showed up.

3.We had agreed to meet at the gym，but Larry didn't show up.

4.My friend always shows me up by laughing too loudly in the theatre.

5.The interview is exclusive to this magazine.

6.Painting has not been her exclusive occupation.

7.The price of the holiday is exclusive of accommodation.

8.You need a bright red scarf to perk up that grey suit.

9.He looked depressed but perked up when his friends arrived.

10.He had perked himself up for the occasion.

11.One of the perks is the use of the official car park.

12.With his hands round her throat he crushed the life out of her.

13.The clothes were badly crushed in the suitcase.

14.The rebellion was crushed by government forces.

15.You can't crush twenty people into such a tiny room.

III.Complete each of the following sentences with an appropriate form of the word given in brackets.

1.When Tabitha asked me what I'd done，I lied and told her I'd spent all day________the subject.（research）

2.In my experience，people who take a lot of trouble with their vacations________wind up with the same hassles as those who wing it，and then they have the added psychological torture of being irritated about being irritated.（vary）

3.At any rate，my first experience with an Italian Internet company began smoothly enough.I wired them a deposit；they e-mailed back a________.（confirm）

4.When I told him I merely wanted to confirm our imminent arrival at Roman Homes，he shouted at me:“You are not allowed to call me about that！________customers may telephone only between hours of 11:30 and 12 o'clock！”（prospect）

5.I felt remorse for the ill will I had harbored:What I had taken as rudeness was obviously just a lack of________.Perhaps he was even a bit deaf.（compose）

6.Across the world，companies in search of greener pastures and higher profit margins are looking to sell their goods internationally—rather than domestically—via ecommerce.（increase）

7.Revenues from cross-border e-commerce are growing quickly due to innovations in e-commerce platforms，cheaper and more________shipping and payments，and growing trust among shoppers.（seam）

8.Prior to the________of e-commerce shopping sites like DHGate，traditional foreign trade involved large minimum order quantities，partnerships with factories，pre-payment of goods and much longer lead-times.（emerge）

9.Life being very short，and the quiet hour of it few；we ought to waste none of them in reading________books.（value）

10.Try to________the house up before the visitors arrive.（smart）

11.A few________students can easily ruin a class.（disrupt）

12.Some dictionary writers use________to show what words mean.（cite）

13.Vacations have________and the work week has shortened.（long）

14.Companies across the world need to________to new business models，overcome language and cultural barriers，deal with new operational and marketing challenges，and sway consumer sentiment so that cross-border shopping is perceived as being as safe and convenient as traditional e-commerce.（climate）

15.Remember，it was only 10 to 15 years ago that many shoppers were________to type their credit card information into a website.（hesitate）

IV.Fill in the blanks，each using one of the words in its appropriate form.

exclude　　　　　live　　　　alive　　　　living　　　　contribute

Model:The police have excluded robbery as a motive for the murder.

1.Pollution is still very much a________issue.

2.The editor is short of________for the May issue.

3.All air must be________from the bottle if the experiment is to work.

4.You'll be glad to hear that Bill is________and kicking.

5.The signing of such a treaty would be a major________towards world peace.

6.The ship has a crew of 57________of officers.

7.He is________proof of the wonders of modern medicine.

8.This special offer has been________designed for readers of this magazine.

9.The lake was________with fish.

10.All of these effects are________to the improvement of ventricular blood ejection in a failing heart.

11.However，today，the Government of China fully recognizes that preserving the country's heritage is an essential part of creating________，sustainable cities.

12.We saw a real________rattlesnake！

13.Television is watched in 97 per cent of American homes，________Alaska and Hawaii.

14.Old buses are major________to pollution in this city.

15.Wages were sixpence a week within________memory.

V.Choose the right word to complete each sentence.

1.Chatty colleagues not only________their own schedules，but also prevent you from completing your task on time.

A.erupt　B.disturb　C.disrupt　D.intrude

2.The doctor told her husband，a workaholic，to________for a good rest.

A.lie in　B.lay　C.lie by　D.lay off

3.He is the owner of a restaurant chain that was________for violations of child labor laws.

A.cited　B.quoted　C.mentioned　D.alluded

4.The accused is________to have killed a man.

A.rumored　B.alleged　C.charged　D.sentenced

5.Can you________me as to the new procedure？

A.enlighten　B.lighten　C.light　D.ignite

6.WHO will work in close collaboration with all our partners to prevent and control________hepatitis.

A.spiral　B.spiny　C.viral　D.virological

7.In all our products the________is on quality.

A.accent　B.ascent　C.decent　D.decadence

8.The elections may prove to be________in Colombia's political history.

A.perverse　B.potential　C.potent　D.pivotal

9.The term“mankind”________men，women and children.

A.invites　B.embraces　C.has　D.hugs

10.He was________through a magazine in the living room.

A.flipping　B.flashing　C.flushing　D.fluttering

11.He's still in hospital，but he seems quite________.

A.cheeky　B.pertinent　C.perky　D.chunky

12.The movie has been________up far beyond its worth.

A.hyped　B.hiked　C.extorted　D.extolled

13.You'll have to learn to________with unfairness and discrimination in this company.

A.live　B.endure　C.survive　D.sustain

14.Tax is payable on all________over£2000.

A.revenue　B.income　C.salary　D.wage

15.“Make yourself________before my parents arrive，”she urged her boyfriend.

A.clever　B.intelligent　C.smart　D.wise

Decide which of the choices given below would best complete the passage if inserted in the corresponding blanks.

Initial public offering（IPO）____1__stock market launch is a type of public offering____2____3_____of stock in a company usually are sold to institutional investors（that price the company receives from the institutional investors is the IPO price）that in turn sell to the____4__public，on a securities____5__，for the first time.Through this process，a private company____6__into a public company.Initial public offerings are used by companies to____7__expansion capital，to possibly monetize the investments of early private investors，and to become publicly traded enterprises.A company selling shares is____8__required to____9__the capital to its public investors.After the IPO，when shares trade freely in the open market，money passes between public investors.___10___an IPO offers many advantages，there are also significant disadvantages，chief among these are the costs__11__with the process and the requirement to disclose certain information that could prove helpful to competitors，or create difficulties with vendors.

Details of the proposed offering are disclosed to potential purchasers in the form of a lengthy document known as a___12___.Most companies undertake an IPO with the assistance of an investment banking firm acting in the___13___of an underwriter.Underwriters provide several services，including help with correctly assessing the value of shares（share price）and establishing a public market for shares（initial sale）.___14___methods such as the dutch auction have also been explored.In terms of size and public participation，the most notable example of this method is the Google IPO.China has recently emerged as a major IPO market，with several of the largest IPOs___15___in that country.

1.A.and　　B.with　　C.or　　D.rather than

2.A.in which　B.which　C.or which　D.that

3.A.portions　B.shares　C.parts　D.prices

4.A.average　B.common　C.usual　D.general

5.A.exchange　B.interaction　C.communication　D.interchange

6.A.transmits　B.transforms　C.transcends　D.transplants

7.A.rise　B.breed　C.arise　D.raise

8.A.always　B.seldom　C.never　D.normally

9.A.pay　B.repay　C.pay for　D.pay up

10.A.Despite　B.As　C.Although　D./

11.A.associated　B.associating　C.tied　D.connecting

12.prospectus　B.prospect　C.prospection　D.prospector

13.capability　B.capacity　C.ability　D.aptitude

14.Alternative　B.Alternating　C.Another　D.Altering

15.take place　B.to take place　C.taking place　D.taken place

I.Underline the misplaced word（s）in each of the following sentences and then move it or them to the right place.

Original:He killed the wasp that stung him with a newspaper.

Improved:With a newspaper he killed the wasp that stung him.

1.I adopted a dog from a junkyard which is very close to my heart.

2.Joanne decided to live with her grandparents when she attended college to save money.

3.I glared at the man who slipped ahead of me in the ticket line angrily.

4.I noticed a gray，furry nest in a corner of the apartment built by a gigantic spider.

5.The father ordered the meal for his family ranging from fried shrimp to chopped beef.

6.Please indicate if you wish us to send you our latest product on the back of the order form.

7.We heard the debate on waste disposal sites at our community college.

8.We almost listen every evening to rock music on the radio.

9.We finally found our motorcycle in the school parking lot with a broken windshield.

10.By the end of the week，I had almost earned a hundred dollars in tips.

II.Judge whether each of the following sentences contains a dangling modifier and make corrections if any.

Original:While skiing downhill without goggles，my eyes were stung by sleet and snow.

Improved:While I was skiing downhill without goggles，my eyes were stung by sleet and snow.

1.Once identified，we can fix the problem quickly.

2.To get a better grade，I have revised my essay twice.

3.After re-elected as US President，Obama's opponents continued to attack his healthcare reform package.

4.To make friends，honesty is important.

5.In running down the stairs，the clock struck twelve.

6.At the age of ten，my father began to teach me Japanese.

7.Once out of the city，the air pollution no longer made his eyes water.

8.After driving two hundred miles，Charles was completely exhausted.

9.To become a first-class gymnast，great dedication and perseverance are necessary.

10.At the age of four，her father decided to find her a piano teacher.

III.Pick out the best sentence formed from the short sentences provided in each group.

1.Ted's ankles are thin.They are weak.They are wobbly.

A.Ted's ankles are thin and are weak and also wobbly.

B.Ted's ankles are thin，weak，and wobbly.

C.Wobbly are Ted's weak and thin ankles.

D.Weak，thin，and wobbly are Ted's ankles.

2.The cat jumped onto the sofa.It curled up in a ball.

A.The cat jumped onto the sofa and curled up in a ball.

B.The cat jumped onto the sofa，and it curled up in a ball.

C.The cat jumping onto the sofa curled up in a ball.

D.The cat jumped and curled up in a ball onto the sofa.

3.There is a statue in the park.It is very large.It is of a grizzly bear.

A.There is a large statue of a grizzly bear in the park.

B.There is a large statue in the park，and it is a grizzly bear.

C.There is a statue in the park of a grizzly bear that is large.

D.There is a statue in the park that is large of a grizzly bear.

4.The weather is cold.It is wet.It is chilling.It is ruining the vacation.

A.The cold weather is wet，and it is chilling and ruining the vacation.

B.The weather is cold and it is wet and chilling，and ruining the vacation.

C.The weather is cold，wet，chilling and ruining the vacation.

D.The cold，wet，chilling weather is ruining the vacation.

5.The train station is filled with people.They are happy.They are noisy.It is New Year's Eve.

A.The station is filled with people happy and people noisy on New Year's Eve.

B.The station is filled with happy noisy people and on New Year's Eve.

C.The station is filled with happy，noisy people on New Year's Eve.

D.The New Year's Eve station is happy and noisy with people.

I.Translate the following into Chinese.

To better understand how Chinese consumers shop and purchase online—and what implications that has for retailers and brands—Bain ＆ Company surveyed more than 1，300 online shoppers across all city tiers，incomes，ages and education levels.A follow-up to our initial 2012 China e-commerce report，it gave us the opportunity to dig deeper into the dramatic growth numbers to understand how the world of online retailing has changed their behavior.We found Chinese shoppers have been more willing than shoppers in other markets to use their smartphones to make purchases，are comfortable with third-party payments and online banking，and are happy to rely on third parties for deliveries—as opposed to picking up products in stores.

In a surprising finding，more than half of those surveyed say that，regardless of where they end up making the purchase—online or in the physical store—they browse websites and make price comparisons before they buy.In fact，Chinese consumers spend much more time browsing online before making a purchase than their counterparts in other countries.More than 70% of survey respondents from all income levels say they often compare prices—online vs.offline and across e-stores.Such distinctive behavior is reflected in the quick popularity of Etao，a website that consolidates the prices from different e-stores，allowing consumers to compare prices and then quickly navigate to the e-store offering the best price.

II.Translate the following into English by using the words or phrases provided in brackets.

1.这场雨把我们的野餐给搅了，可惜不可惜？（shame）

2.由于发动机突然出现故障，飞行员不得不在爱尔兰海上紧急降落。（ditch）

3.为什么你不直接与他谈判，一劳永逸地解决这个问题呢？（once and for all）

4.那老水手爱信口开河地讲他的航海生涯。（spin a yarn）

5.所有职员录用前均须审查是否与极端分子团体有关。（vet）

Please give a mini-talk on the benefits of online shopping to customers.

The world is entering the Internet plus era，in which more and more activities depend on the use of the Internet.E-commerce is，therefore，gaining momentum day by day and it seems that the traditional retailers can hardly survive the new era if they refuse to adapt to the new situation.

Please have a group discussion on the topic“The impact of e-commerce on markets and retailers”.