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
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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.
