YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Alibaba to buy e-commerce rival for $2B

Posted online

Alibaba agreed to buy e-commerce rival Kaola for $2 billion.

Owned by gaming giant NetEase, Kaola buys foreign products in bulk and sells them to customers in the Chinese market.

Kaola will remain an independent brand through the deal. However, Alibaba will assign the company a new CEO.

Read more from Quartz.

Comments

No comments on this story |
Please log in to add your comment

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
From the Ground Up: Reed Academy for Fine and Performing Arts

A new and improved Reed Academy is being constructed on the middle school’s original site to preserve a neighborhood connection that goes back a century.

Most Read
SBJ.net Poll
Has your business made any changes in response to shifting federal government priorities?

*

View results

Update cookies preferences