Alibaba Group Holding Ltd (IPO-ALIB.N) has struck one of its largest deals with a U.S. e-commerce company, agreeing to help Amazon.com (AMZN.O) rival ShopRunner expand into China.
ShopRunner
Breaking News
Alibaba Group Holding Ltd (IPO-ALIB.N) has struck one of its largest deals with a U.S. e-commerce company, agreeing to help Amazon.com (AMZN.O) rival ShopRunner expand into China.
Chinese e-commerce firm Alibaba is trying to buttress its weaknesses ahead of its public debut later this year by acquiring firms, the Financial Times reported.
ShopRunner added to Alibaba's recent purchases made to help in the former's IPO.
Alibaba bought stake in online shopping firm ShopRunner for USD75 million as it prepares for its initial public offering in Hong Kong.
Subscribe to VCpost newsletter
Most Popular
- Walgreens to Open a New Pharmacy Offering Cell and Gene Therapies to Patients With Chronic Diseases Like Cancer
- Walmart Founder's Son Rob Walton to Step Down From Board
- How to Apply for Social Security Spousal Benefits; Here's How You May Boost Your Money!
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- US Secretary of State Antony Blinken Calls on China to Treat American Companies Fairly During Visit to Shanghai
- Kroger and Albertsons to Sell off 166 Stores in Effort to Gain Approval for Their $25 Billion Merger
- JPMorgan CEO Warns of Economic Risks Amid Biden's 'Huge' Deficit Spending, Questions Likelihood of 'Soft Landing'
