Alibaba pushes into the US as it leads $206 million investment in Shoprunner

Alibaba pushes into the US as it leads $206 million investment in Shoprunner

Alibaba is diving into the US market with a substantial investment in two-day shipping service Shoprunner, The Wall Street Journal reports. It’s not known how much of the $206 million deal Alibaba chipped in, but it’s believed to have put in most of the funding. In August, the Chinese ecommerce leader was said to have paid $75 million for a minority part of the company.

eBay is said to have sold off its 30 percent stake in Shoprunner in this latest round. Shoprunner represents a strategic investment for Alibaba, as it offers a viable competitor to Amazon Prime and can help familiarize Alibaba with the US market.

Alibaba Leads $206 Million Investment in ShopRunner [WSJ]

Thumbnail image credit: Flickr / Charles Chan

Read next: Two months after iPhone rollout, Yelp brings mobile reviews to Android

Corona coverage

Read our daily coverage on how the tech industry is responding to the coronavirus and subscribe to our weekly newsletter Coronavirus in Context.

For tips and tricks on working remotely, check out our Growth Quarters articles here or follow us on Twitter.