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


Alibaba exceeds expectations

17/08/2017

Chinese Alibaba has trumped analysts’ turnover and profit expectations with its first quarter results. Its profit even doubled compared to the year before.

Aldi will home deliver in the United States

16/08/2017

German discounter Aldi is starting one-hour deliveries for online orders in the United States, using startup Instacart. Amazon’s reaction was swift: it will test lockers in which custumers can collect items two minutes after ordering them.

Yoox-Net-a-Porter thrives thanks to mobile surge

03/08/2017

Online retailer Yoox-Net-a-Porter has managed to beat analysts’ expectations in the past fiscal year, thanks to a surge in mobile sales. For the first time ever, these sales contributed more than half of the retailer’s total turnover.

Lidl constructs new distribution center in Venlo

01/08/2017

Lidl will open a new distribution center in Venlo, which will cater its web shop’s customer base. The distribution center is not a Lidl Netherlands project, but apparently an international project.

Amazon places own pick-up lockers at consumers' homes

31/07/2017

Amazon announced The Hub, a system of pick-up lockers that can be placed everywhere. They come in different sizes and can be placed both inside or outside of buildings.

Amazon's profit takes enormous hit

28/07/2017

American Amazon’s profit plummeted in the second quarter and is also lower than what analysts had predicted, despite a 25 % turnover increase.

Back to top