Alibaba sells its American branch

Alibaba sells its American branch

Chinese internet giant Alibaba has sold American 11 Main to online marketplace OpenSky in return for 38 % of the company's shares.

Not as interested in its own platform

Alibaba launched 11 Main in June 2014, in a first attempt to gain a foothold in the American market, but expectations were not that high, particularly as the marketplace was only accessible through an invitation. According to internal sources, 11 Main received very little backing from the Chinese main office, not even at its start.

 

Alibaba's vice president Joseph Tsai had already divulged in a previous interview that the company had little interest in owning its own platform in the United States, but it wanted to connect Chinese consumers to American retailers. That is why it uses Tmall Global for example. Web shops from other countries can also use that platform to sell to Chinese consumers.

Questions or comments? Please feel free to contact the editors


Amazon Echo is now available in the Benelux

11/12/2017

Amazon announced it will ship its smart speaker Amazon Echo to another 28 countries, including Belgium and the Netherlands. Its own music streaming service will also get a local launch.

Luxury manufacturers can block retailers from selling on Amazon

07/12/2017

Luxury product manufactures can block retailers from selling their merchandise on online marketplaces like Amazon. The European Court of Justice has ruled on the matter after cosmetics manufacturer Coty filed a complaint.

Surge in mobile sales during Thanksgiving weekend

29/11/2017

During Thanksgiving weekend in the United States, which contains Black Friday and Cyber Monday, there was a big surge in mobile sales. Those two days saw a total sales figure of almost twelve billion dollar (just shy of ten billion euro).

Alibaba reveals its high-tech store of the future

24/11/2017

Amazon Go’s automated supermarkets have not yet arrived, but Alibaba already has its answers ready. The Chinese online retailer has showcased Tmall Supermart, filled with technology: from virtual fitting rooms to facial recognition.

Rakuten bridges gap to Japanese online consumer

30/10/2017

In Alibaba and Amazon’s shadow, Japanese Rakuten Ichiba is quickly developing. Several Western chains are using the platform to sell their products to Japanese online consumers.

Whole Foods contributes to Amazon's enormous turnover increase

27/10/2017

American Amazon’s third quarter turnover grew a lot once more, partially thanks to Whole Foods. This was the first time the chain’s turnover was added to Amazon’s overall turnover.

Back to top