China's strict zero-Covid policies have hurt economic activity, including consumer and merchant spending on Alibaba's platforms.
Aimone Ripa di Meana and Alessandro Piscini expect the investment to help their venture attract new brands to the digital commerce ecosystem by reaching the United States, China and Southeast Asia.
Zhou expected to move to another role within the ecommerce platform, with Chew starting October 1.
Revenue growth slows and marketing investment grows as the ecommerce giant grapples with competition and a regulatory crackdown.
Zhou has expanded the ecommerce platform’s livestreaming capabilities and helped struggling small businesses build an online presence.
TOP OF THE CHARTS: Shopee runs away with the race for most 2020 visitors, according to a report from iPrice, SimilarWeb and Appsflyer.
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