News this week: China’s largest e-commerce company, Alibaba
Group, has acquired a minority stake in U.S.-based online shopping company ShopRunner for US$75
million.
ShopRunner is run by Yahoo’s former chief executive Scott
Thompson. Alibaba executive vice chairman Joe Tsai will reportedly join ShopRunner’s
board of directors as part of the deal. ShopRunner is headquartered in San
Mateo, California and offers goods from approximately 80 retailers.
ShopRunner is reportedly Alibaba’s second investment in a
U.S. e-commerce company this year following an investment in Fanatics Inc., a sports apparel retailer
now valued at an estimated US$3.1 billion.
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