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Alibaba Buys Rival E-Commerce Platform NetEase Kaola for $2 Billion

2019年09月06日 20:27 来源于 财新网
Purchase could better position China’s largest online retailer to confront threat of Tencent-backed Pinduoduo
Alibaba will acquire cross-border e-commerce platform Kaola, owned by Netease, for $2 billion. Photo: IC Photo

Alibaba Group Holding Ltd., China’s largest e-commerce giant by market share, said on Thursday it will pay $2 billion to acquire cross-border e-commerce platform Kaola from NetEase Inc.

The announcement, which comes after Caixin reported a potential deal last month, marks the latest consolidation in China’s ultra-competitive online shopping market. NetEase Kaola, the biggest import retail e-commerce platform in China, is an archrival of Alibaba’s Tmall Global.

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