Alibaba buys Netease’s cross-border ecommerce arm

August 16, 2019 | Investment
Written by FinTech Alliance

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Alibaba buys Netease’s cross-border ecommerce arm

Chinese technology giant Alibaba is purchasing Koala for £1.6bn ($2bn).

In brief:

  • The companies were widely reported to be in talks, but Caixin Global has just confirmed that Alibaba will complete the purchase in cash.

  • The ecommerce site focuses on imported goods, carrying more than 9,000 brands.   

  • Koala already works with Alibaba’s logistics arm Cainiao.

What does this mean?

In purchasing Koala, Alibaba is buying a key rival to its cross-border ecommerce platform, Tmall. As such, it will mean ecommerce in China is more consolidated than ever.

Read more here.

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