Alibaba is fortifying its e-commerce unit by merging with Kaola from NetEase
Following our previous talk of an acquisition case featuring NetEase’s cross-border e-commerce platform Kaola acquired by Alibaba. The latter has officially announced that it has completed the deal for approximately $2 billion. The acquisition will create a new dominant leader in the field, surpassing other competitors such as JD, VIP.com and Sunning which are tapping into the global e-commerce market. The industrial value was estimated at RMB 90.83 billion (around $12.70 billion) in the first quarter, and this lucrative market has continued attracting newcomers from other sectors such as social media and real estate.