Announced
Synopsis
Alibaba Group, the largest online retailer in China, agreed to acquire Kaola, a local e-commerce platform, from NetEase for $2bn. The transaction paves the way for the two internet companies with deep roots in Hangzhou to further identify and explore business collaborations. “Alibaba is confident about the future of China’s import e-commerce market, which we believe remains in its infancy with great growth potential. We welcome Kaola to the Alibaba family and value NetEase’s contributions in incubating an e-commerce platform with strong import capabilities. With Kaola, we will further elevate import service and experience for Chinese consumers through synergies across the Alibaba ecosystem,” Daniel Zhang, Alibaba Group CEO.
Principals
Show Details & Financials
Search a database of more than 250,000 verified dealmakers
Receive automated updates on global transactions
Follow the activity, relationships and transactions of top dealmakers
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.