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Alibaba sells 11 Main to its rival OpenSky

阿里巴巴出售旗下美国电商网站11 Main.jpg

On Tuesday, Alibaba said it is selling 11 Main, an online marketplace, to OpenSky, an online-marketplace operator based in New York. In exchange, Alibaba is taking a 37.6% stake in OpenSky. In another deal announced Tuesday, Alibaba and its financial-services affiliate, Ant Financial Services Group, are together investing nearly $1 billion in an Alibaba food-delivery booking service in China called Koubei, hoping to turn it into a local services platform to challenge similar apps backed by rival Tencent Holdings Ltd.

阿里巴巴集团周二表示,将把旗下美国纽约在线购物子公司11 Main出售给另外一家美国在线交易平台OpenSky。作为交换,阿里将获得37.6%的OpenSky股份。与此同时,阿里巴巴还在6月23日宣布与其关联公司蚂蚁金服一起向订餐送餐服务项目“口碑”投资10亿美元。阿里希望借助投资,将其转型为本地服务平台,从而挑战对手腾讯支持的类似手机应用。

The two deals highlight Alibaba’s priorities as earnings slow down and competition intensifies at home. For the time being, analysts and investors are paying more attention to Alibaba’s efforts to solidify its strong position in the Chinese market. Alibaba holds roughly 80% of China’s online shopping market.


When California-based 11 Main first made its marketplace available on an invitation-only basis, the company said it had a “robust marketing plan” to support growth for shops featured on the site.


But 11 Main struggled to gain attention and support from Alibaba headquarters in China, according to a person familiar with the matter.


While 11 Main’s management will be integrated into OpenSky, 11 Main’s website will remain separate from OpenSky for now, Alibaba said.


Alibaba senior executives have said in the past that the company’s international strategy would focus primarily on helping overseas merchants and brands sell their goods to Chinese consumers, rather than expanding electronic-commerce services that compete head-on with the likes of Amazon in Western markets.


“The key issue is whether we are going to have something in the U.S. market that will really target U.S. consumers. We think in the long run that’s an interesting market to us. But today, our focus is very much on cross-border activities” that connect U.S. sellers with Chinese consumers, Alibaba Executive Vice Chairman Joseph Tsai said in a interview.



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