We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Alibaba Spreads Wings In U.S. Market; Opens B2C Ecommerce Site

February 11, 2014: 12:00 AM EST
China’s leading ecommerce company Alibaba said it will launch its business-to-consumer site, 11 Main, in the United States. Set to launch its initial public offering in the U.S. that could put its value at more than $100 billion, according to market analysts, Alibaba said its subsidiaries Vendio and Auctiva will launch the online store to sell quality products from “handpicked shop owners.” Alibaba-owned online stores account for 80 percent of ecommerce in China, with revenues rising more than 50 percent to $1.7 billion in the last quarter. Slowdown in sales growth, however, prompted the company to search for new sources of revenue growth, which led it to expand its business in the U.S.
Charles Clover, "Alibaba to launch US ecommerce site", The Financial Times , February 11, 2014, © The Financial Times Limited
North America
United States of America
Companies, Organizations
Market News
Developed by Yuri Ingultsov Software Lab.