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Alibaba (BABA) to Acquire Kaola from NetEase (NTES) for Approx. $2B
September 6, 2019 5:49 AM EDT(Updated - September 6, 2019 5:50 AM EDT)
NetEase, Inc. (NASDAQ: NTES) and Alibaba Group Holding Limited (NYSE: BABA) today announced Alibaba's acquisition of NetEase's import e-commerce platform Kaola for approximately US$2 billion. The transaction paves the way for the two internet companies with deep roots in Hangzhou to further identify and explore business collaborations.
Alibaba plans for Kaola to continue to operate independently under its current brand. Tmall Import and Export General Manager... More
