The Chinese eCommerce powerhouse Alibaba announced last week that it partnered with Brazil’s state-owned postal services company, Correios in order to help the country’s SMBs sell their products in China through Alibaba’s websites, using its Alipay electronic payment system. Without providing details, the eCommerce company also said it will work with Correios to improve the logistics procedures between Brazil and China.
According to reports in the Wall Street Journal, Alibaba wants Brazilian businesses to be more aware of its services. Additionally, the news source explained that Alibaba could provide local businesses with better access to China’s vast consumer market.
This is similar to a an agreement Alibaba signed with Italy’s government to simplify the procedures for Italian retailers to sell their products on Alibaba’s Tmall.
Alibaba announced last week that it planned to push back its IPO to September. Reports said that the company did not see a reason to sprint toward an IPO set to coincide with the late summer market slow-down. Analysts predict Alibaba stock sale could raise as much as $20 billion, and that its total valuation could come close to the $200 billion mark.
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