Business

Alibaba will monopolize cross-border e-commerce in China

The Chinese giant has announced the acquisition of Kaola, its largest rival in online sales of imported goods

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  • 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.

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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.”

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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.