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China's Alibaba to expand U.S. reach with new investment group |
October 24, 2013
China's Alibaba Group is poised to invest more in U.S. tech companies with the start of a new investment group that the e-commerce giant is setting up in San Francisco .Alibaba is looking to back "innovative platforms, products, and ideas" that focus on e-commerce and new technologies with the investment group, the company said in an email Wednesday.The company recently invested in three U.S. tech companies, the latest being ShopRunner, an online retailer that competes against Amazon.com. Alibaba led a recent investment round for ShopRunner that raised US$200 million.Earlier in the year, the company also funded Quixey, a search engine for mobile apps, and Fanatics, a retailer of licensed sports merchandise.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2057560/chinas-alibaba-to-expand-us-reach-with-new-investment-group.html#tk.rss_all
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