• Alibaba cedes control to form new Russian joint venture

    15 days ago - By Venture Beat

    China's largest e-commerce firm, Alibaba Group Holding Ltd, has ceded control of its Russian business to form a new venture with a state fund and two technology firms, hoping that access to their consumer base with help boost its development. Alibaba will own 48 percent of AliExpress Russia as a result of the deal signed with Russ...
    Read more ...

     

  • Alibaba Is Teaming Up With a Kremlin-Backed Fund to Expand in Russia

    Alibaba Is Teaming Up With a Kremlin-Backed Fund to Expand in Russia

    15 days ago - By Fortune

    Alibaba Group Holding is setting up a $2 billion joint venture with a Kremlin-backed fund and billionaire Alisher Usmanov's Mail.ru Group to grow its e-commerce business in Russia .
    Asia's most valuable company signed an accord Tuesday with the Russian Direct Investment Fund and Mail.ru to establish AliExpress Russia, which the local investors will collectively control. Alibaba will fold the domestic operations of its online marketplaces Tmall and AliExpress into the venture, while Usmanov's MegaFon PJSC will sell its 10% stake in Mail.ru - worth roughly $486 million at Monday's close - to...
    Read more ...

     

  • Alibaba has Russia in its sights

    15 days ago - By Fast Company

    The Chinese giant wants part of Russia's expanding online user base.
    The Chinese e-commerce giant has teamed up with a number of Russian firms to launch a new e-commerce platform joint venture in Russia, reports CNBC. Alibaba will work with the Russian Direct Investment Fund , mobile operator MegaFon, and internet group mail.ru to create a “one-stop destination for consumers to communicate, socialize, shop, and play games, all within the same online ecosystem,” says CNBC.
    Read more ...

     

  • China's Alibaba & Russian tech firm Mail.ru announce partnership

    15 days ago - By RT

    Chinese e-commerce giant Alibaba is setting up a joint venture with the Russian Direct Investment Fund, mobile operator Megafon and internet group Mail.ru. The deal was struck at the Eastern Economic Forum in Russia's Vladivostok.
    Read more ...