- Kaola, owned by the gaming company NetEase, leads the segment of online sales of imported goods in China today;
- The deal, still to be finalized, is a $2 billion investment.
Alibaba confirmed this Friday (6th) the acquisition of Kaola, its largest rival in online sales of imported goods. The deal, still to be finalized, is a $2 billion investment and shows that the Chinese giant’s confidence is high, despite the trade tensions with the United States.
According to Quartz, the deal is also driving China’s largest e-commerce company, “whose business empire stretches from mobile payments to entertainment,” to “monopolize the country’s online cross-border sales.”
Kaola, owned by the gaming company NetEase, leads the segment in China today, with 28% of market share in the first six months of the year, according to iiMedia Research. Its segment rivals are JD Worldwide and Amazon China.