Alibaba announces to open a US e-commerce website
Chinese e-commerce giant, Alibaba Group Holding Ltd, has announced that it will open a US e-commerce website through its subsidiaries Vendio and Auctiva.
The 11 Main (http://11main.com) site will offer a variety of goods across the fashion, tech and jewellery sectors. The website, although not currently operational, is encouraging US retailers to sell through its 11 Main domain by prompting companies to request an invitation. Selling through 11 Main is by invitation only, however.
Alibaba’s international strategy has seen the company set up an investment division in the US, plough a USD 200 million investment into ShopRunner, and offer its e-commerce and online payment products overseas.
Alibaba – which has been valued at around USD 140 billion – is thought to be gearing up for an initial public offering later this year.
Regarding Vendio and Auctiva’s launch of 11 Main, an Alibaba spokeswoman said: “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”.