Alibaba Buy Auctiva

The Chinese company said it has entered into an agreement to buy Auctiva, which provides listing and marketing tools to vendors on e-commerce websites like eBay.
Chief Executive David Wei said he is keen on more acquisitions to add technology or already-proven commercial applications to Alibaba’s lineup.
Alibaba said buying Auctiva would help it reach U.S. businesses and connect them with suppliers outside of the country.
Wei said buying Auctiva would help Alibaba target the more than 90 percent of U.S. online merchants who continue to source their products offline.
The acquisition, which closed on Aug. 18, is part of a $100 million investment plan for AliExpress that Alibaba announced in April. Auctiva will operate as a new business unit and will retain its own brand and operations.
In June, Alibaba bought Vendio Services Inc in its first major U.S. acquisition to further its strategy of expanding its global footprint.

Source : Konaxis

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