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
Editors' Pick
Springfield’s Latter-day Saints members eagerly await temple

Nearest Mormon temple now in Bentonville.

Most Read
Update cookies preferences