News this week: China’s leading e-commerce
company, Alibaba
Group, announced the establishment of a U.S.-based investment organisation that
will focus on supporting innovative platforms, products and ideas in e-commerce
and emerging technologies.
Based in the San Francisco Bay Area, the team will be led by
Michael Zeisser as chairman of U.S. Investments for Alibaba Group. Zeisser has
previous experience with Liberty Media’s
eCommerce Group for strategies in digital media and Internet commerce. So far,
three U.S. companies have received growth funding from Alibaba, including Fanatics, ShopRunner and Quixey.
Joe Tsai, executive vice chairman of Alibaba and head of
Alibaba’s strategic investments, commented, “Alibaba is run by entrepreneurs,
and we believe in supporting entrepreneurs with great vision and a strong sense
of mission for their companies.”
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