Alibaba acquires NetEase’s Kaola e-commerce platform

Alibaba acquires NetEase’s Kaola e-commerce platform

Alibaba is rumoured to have acquired NetEase’s Chinese cross border e-commerce platform Kaola in a $2 billion deal, according to a report by local news site Caixin.  

While both companies declined to comment, it is reported that Alibaba is looking to better cater to local demand for higher quality items from abroad.

Alibaba will reportedly fund the deal through cash.

WELLNESS

FASHION

TRAVEL

PROFESSIONAL BEAUTY

JOBS & PEOPLE