Alibaba acquires import e-commerce platform Kaola

China, 5th September: Last week, China’s largest e-commerce company, Alibaba Group, bought an import e-commerce platform, Kaola from NetEase, an online gaming and entertainment company, for about US$2 billion.

After the acquisition, Kaola will continue to operate independently under its current brand. Tmall Import and Export General Manager, Alvin Liu, will serve as Kaola’s new CEO.