Friday, November 01, 2013

Alibaba unveils U.S.-based investment organisation

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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