26 April 2019

Alibaba invests in Amazon rival, WSJ says

Alibaba Group Holding Ltd. has led a US$206 million investment in a rival to Inc. as the Chinese e-commerce giant considers an initial public offering in the United States, the Wall Street Journal reported Thursday. Alibaba invested in ShopRunner Inc., which offers unlimited two-day shipping from retailers including Toys “R” Us Inc. and RadioShack Corp. for a US$79 annual fee. The deal values ShopRunner at about US$600 million, a person familiar with the matter was quoted as saying. It was not clear exactly how much Alibaba invested, but it did put in the majority of the funding, the report said.

– Contact HKEJ at [email protected]


EJI Weekly Newsletter

Please click here to unsubscribe