Alibaba seals 1st overseas buy
By Cathy Ding |
June 26, 2010, Saturday
|
Print Edition
Print Edition
ALIBABA.COM has completed its first overseas acquisition to tap the demand for sourcing among small business owners in the United States.
The Hong Kong-listed e-commerce provider will acquire Vendio Services Inc, a US-based multi-channel online sales operator for small and medium-sized merchants, the company said.
The company didn't offer financial details of the acquisition but said the takeover is part of its US$100 million investment in AliExpress, its wholesale transaction platform, announced in April this year.
"We'll continue to look for investment opportunities to grow our customer base, and we're open for more partnership opportunities," Alibaba CEO David Wei said. "The connection of Vendio and Alibaba.com will integrate the value chain between B2B and B2C platforms, and this will create business opportunities for customers."
Alibaba will get access to more than 80,000 small business owners in the US with potential demand to source from suppliers on AliExpress.
Customers are able to source from more than 5 million products on AliExpress and sell goods through Vendio on retail marketplaces, including EBay and Amazon.com.
The Hong Kong-listed e-commerce provider will acquire Vendio Services Inc, a US-based multi-channel online sales operator for small and medium-sized merchants, the company said.
The company didn't offer financial details of the acquisition but said the takeover is part of its US$100 million investment in AliExpress, its wholesale transaction platform, announced in April this year.
"We'll continue to look for investment opportunities to grow our customer base, and we're open for more partnership opportunities," Alibaba CEO David Wei said. "The connection of Vendio and Alibaba.com will integrate the value chain between B2B and B2C platforms, and this will create business opportunities for customers."
Alibaba will get access to more than 80,000 small business owners in the US with potential demand to source from suppliers on AliExpress.
Customers are able to source from more than 5 million products on AliExpress and sell goods through Vendio on retail marketplaces, including EBay and Amazon.com.
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