Alibaba buys stake in US online retailer Zulily for $56 million
Chinese e-commerce giant Alibaba Group bought a large stake in US online retailer Zulily for $56 million, allowing it to gain footing across the Pacific. Alibaba has invested big in US e-commerce companies, including luxury shopping website 1stdibs and ShopRunner, a shipping service provider for retailers.
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The website of US online retailer Zulily is seen on Monday, August 17, 2015.[Photo/IC] |
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