IanAlibaba is exploring new turfs. Would Amazon/eBay feel the effect?
A Reuters article says that Alibaba, the Chinese e-commerce giant is foraying into American soils. Amazon and eBay are the major players in the USA today. And there is a lot of speculation on whether the Chinese counterpart would be a significant player.
Alibaba’s USP is a wide range of products, including “one-of-a-kind items, not available at mass merchants and other large e-commerce site”, according to the company. The interesting aspect here is that Alibaba is an invitation-only marketplace.
Industry experts say Alibaba’s IPO is expected to raise more than $15 billion – the most since Facebook’s IPO in 2012.
Jack Ma’s Alibaba controls 80 percent of all online retail in China, handling about $250 billion in 2013 – more than Amazon and eBay Inc combined. Hmmm!
Image: Internet
