Back to Career News

E-Commerce Firm Kaola to be Acquired by Alibaba for 2 bn USD

August 19, 2019

E-Commerce Firm Kaola to be Acquired by Alibaba for 2 bn USD

According to a Chinese news outlet, local e-commerce firm Kaola is to be acquired by Alibaba Group Holding Ltd for 2 billion USD. The firm which is owned by NetEase Inc sells household appliances, apparels, etc. and is also one of the biggest Chinese online stores that sell imported products.

Earlier in February, business magazine Caijing reported that Amazon’s merger with Kaola was also in talks.

Neither Alibaba nor NetEase have responded to requests for comment on the reported deal.

Image Source

Recommended for you ...

Indian Tech Startups Raise $1.6 Billion in Q1 2024, Retail and Fintech Lead Growth
Indian Tech Startups Raise $1.6 Billion in Q1 2024, Retail and Fintech Lead Growth

March 28, 2024

Fintech Experts Advocate for Cohesive Regulatory Framework Amid Rapid Digitalisation of Finance
Fintech Experts Advocate for Cohesive Regulatory Framework Amid Rapid Digitalisation of Finance

March 27, 2024

Indian Payment Aggregators Rush to Obtain International Payment Licences
Indian Payment Aggregators Rush to Obtain International Payment Licences

March 27, 2024

Chat on WhatsApp