Eyeing Acquisitions

However, Wei declined to give details on acquisition targets for his company, which is the listed unit of Alibaba Group, but said “the priority will be to further boost”

AliExpress, which Alibaba formally launched in April after a beta period, is a U.S.-focused online wholesale platform in which Alibaba has said it plans to invest $100 million.

As part of that investment, Alibaba already announced its first U.S. acquisition in June with plans to buy Vendio Services Inc., which helps merchants sell goods on sites such as Inc. and eBay Inc.

Alibaba in April also said it would start accepting payments from users of eBay’s PayPal service on AliExpress. Alibaba plans to enable more payment platforms on AliExpress to ensure payment troubles don’t deter users, Wei said, declining to give details on possible partnerships.

The U.S., India and Japan remain Alibaba’s highest-priority overseas markets, but for the next three years Alibaba will focus on investment in those areas before seeking more benefits from them later, Wei said.

Source : Konaxis


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