Alibaba Group Holdings announced the acquisition of NetEase’s import e-commerce platform Kaola for nearly US$2 billion, betting on China’s import e-commerce market growth.
After the deal, Kaola will continue to operate independently under its current brand, according to a press release. Alvin Liu, Tmall import and export general manager, will serve as Kaola’s new CEO.
“We are pleased to have found a strategic fit for Kaola within Alibaba’s extensive...
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