Websites merged into strong firm
Print Edition
ALIBABA will consolidate its US online shopping website 11 Main into rival online marketplace OpenSky so that “the combined business will be a strong and healthy independent company.”
11 Main debuted just over a year ago as the Chinese e-commerce giant’s first foray into building its online retail operations in the US.
11 Main’s operations will be folded into OpenSky, along with Auctiva, Vendio and SingleFeed — three other US companies that Alibaba acquired between 2010 and 2011 that provide logistics and services for 11 Main.
Alibaba will hold 37 percent of OpenSky after the folding, set to be finalized by July-end.
“OpenSky and 11 Main will be joining forces, and we believe together the combined business will be a strong and healthy independent company,” said an e-mail statement yesterday.
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