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China's Alibaba backs Amazon rival ShopRunner |
October 11, 2013
Alibaba Group is targeting the U.S. market with a US$200 million investment in ShopRunner, an online retailer that competes with Amazon.com, a source familiar with the deal said Friday.The investment in ShopRunner comes at a time when the Chinese e-commerce giant has been actively investing in promising technology ventures in the U.S. and in its home market, according to the source.Started in 2010, ShopRunner is an online retailer that offers free two-day shipping on goods for a $79 annual membership fee. The service rivals Amazon's own Prime membership program, which also offers free two-day shipping at the same price.ShopRunner could not immediately be reached for comment on the deal.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2054140/chinas-alibaba-backs-amazon-rival-shoprunner.html#tk.rss_all
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