Alibaba.com to acquire US e-commerce firm Vendio Services
25 Jun 2010
Alibaba.com Ltd, the Chinese e-commerce firm for small businesses and the flagship company of Alibaba Group, yesterday agreed to acquire Vendio Services Inc, making its first acquisition in the US as it seeks to expand its footprint globally.
Founded in 1999, Vendio is also an e-commerce firm that helps small- to medium-sized merchants manage their sales across multiple online sales channels including their online store, Amazon.com, eBay, Google, Shopzilla, and more.
Vendio, based in San Mateo, California, hosts over 80,000 merchants who sell nearly $2 billion in merchandise. The company also operates Dealio, a shopping and coupons site for consumers.
Hangzhou, China-based Alibaba.com, part of the Alibaba Group, in which Yahoo holds nearly 40 per cent stake, did not reveal financial terms of the deal.
The deal is part of a $100 million investment plan for AliExpress announced in April by Alibaba.com. AliExpress is a wholesale transaction platform operated by Alibaba.com.
Through this acquisition, Alibaba.com will get access to more than 80,000 targeted small businesses in the US with potential sourcing needs from suppliers on Alibaba.com's sourcing platform and AliExpress