Chinese eCommerce conglomerate Alibaba has created a U.S-based investment organization, according to VentureBeat.
The move is aimed at easing the group’s entry into U.S.markets, and supports Alibaba’s acquisition of American eCommerce assets and rumored preparation for an initial public offering.
“Alibaba is run by entrepreneurs, and we believe in supporting entrepreneurs with great vision and a strong sense of mission for their companies,” Joe Tsai, Alibaba’s executive vice chairman of Alibaba, said in a statement.
To learn more about Alibaba’s U.S. investment growth, read the full report here.
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