Alibaba set to introduce US e-commerce site
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E-mail China Daily, February 12, 2014
Alibaba Group Holding Ltd is set to launch a US e-commerce website through its subsidiaries Vendio and Auctiva, the company said Tuesday.
The 11 Main (11main.com) site is an online shopping business that offers “interesting, quality products” from “handpicked shop owners” such as fashion, tech and jewelry goods.
Alibaba has been ramping up its international expansion with various acquisitions, including leading a roughly US$200 million investment round in US retail site ShopRunner Inc, setting up an investment division in the US and offering more of its e-commerce and online payment products overseas.
China’s dominant e-commerce company is also gearing up for a public offering later this year which will value the company at around US$140 billion, according to a poll of eight analysts.
The foray into boutique e-commerce was conceived and created by Vendio and Auctiva, which Alibaba.com acquired in 2010 and helped businesses sell on eBay Inc’s and Amazon.com Inc’s websites.
“Alibaba is happy to support 11 Main,” an Alibaba spokeswoman said. “Alibaba is run by entrepreneurs and firmly believes in supporting entrepreneurs.”
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