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Alibaba acquires NetEase's import e-commerce platform Kaola for USD 2 billion

Monday 9 September 2019 | 11:46 CET | News
Alibaba has acquired NetEase's import e-commerce platform Kaola for approximately USD 2 billion. Via this transaction, the two internet companies plan to jointly identify and explore business collaborations. Kaola will continue to operate independently under its current brand. Tmall Import and Export General Manager Alvin Liu will serve as Kaola's new CEO.

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Categories: Internet
Companies: Alibaba
Countries: China
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