After purchasing three startups that helped US merchants sell products on eBay and Amazon, the company financed 11 Main, a new standalone ecommerce website founded by executives from its new companies, qz.com reports.
While Alibaba provided funding and some guidance, management was mostly hands-off. Alibaba has made several other investments in US-based ecommerce companies, most notably in ShopRunner and has also placed bets on US-centric social apps like Snapchat and Tango that have exceeded the USD 100 million mark.
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