Chinese ecommerce goliath, Alibaba, has opened its US offices today in San Francisco. The move comes on the heels of the Asian tech giant forming a US based investment team. Also recently, Alibaba received NYSE NASDAQ approval for their planned partnership structure for a possible IPO, after being rejected by the Hong Kong stock exchange. It seems that Alibaba is concentrating on increasing their global presence with focuses on the US.
Back in August Alibaba invested $75 million dollars in name brand retailer ShopRunner, which has then turned into a $206 million investment earlier this month. The company has also recently made smaller investments, both in Fanatics, and Quixey. This, in addition to unannounced investments and with their new home in San Francisco, does suggest that they are taking their potential IPO very seriously.
Alibaba has positioned its investment team geographically close to the action by planting them in San Francisco, to look into investing in more ecommerce tech companies, and to cultivate more names and technologies to add to its arsenal.
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Sanford C. Bernstein & Co has valued Alibaba for $190 Billion. The only other tech companies to be valued higher are Google and Amazon.
Beyond the IPO, it seems that Alibaba is intending to penetrate the US market, and is planning to offer support for US retailers and stores through their services.
We will have to wait and see what Alibaba is intending to do, now that it has a US branch.
Most signs lead to more investments and US market growth