According to the source, Alibaba is paying USD 75 million for the stake in ShopRunner, run by former Yahoo Chief Executive Scott Thompson. The investment will add to a long relationship between Alibaba and Yahoo.
The acquisition is part of a string of investments by Alibaba, as it prepares for its initial public offering in Hong Kong.
In recent news, Alibaba has teamed with Chinese search engine company Baidu, internet company Tencent and other Chinese internet companies to fight online fraud in the country.
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