U.S. E-Commerce Players on Watch as Alibaba Makes Stronger U.S. Push
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Amazon.com (Nasdaq: AMZN), Overstock.com (Nasdaq: OSTK), and other retailers which have a strong presence online are on watch Tuesday following reports that Chinese e-Commerce giant Alibaba Group is looking to make entry into the U.S. market.
Alibaba will make the move via its Vendio and Auctiva subsidiaries, according to Reuters. The main website will be 11 Main, which will offer
Over the last few months, Alibaba has been increasing its U.S. presence. The company has set up an investment division in the U.S. and put $200 million to work via an investment in ShopRunner.
Both Amazon and Overstock are lower Tuesday.
Alibaba will make the move via its Vendio and Auctiva subsidiaries, according to Reuters. The main website will be 11 Main, which will offer
interesting, quality productsfrom
hand-picked shop owners,according to one spokesperson.
Alibaba is happy to support 11 Main ... Alibaba is run by entrepreneurs and firmly believes in supporting entrepreneurs with great vision and a strong sense of mission for their companies,the spokesperson concluded.
Over the last few months, Alibaba has been increasing its U.S. presence. The company has set up an investment division in the U.S. and put $200 million to work via an investment in ShopRunner.
Both Amazon and Overstock are lower Tuesday.
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