Alpha Resource Partners – Alibaba has announced that it intends to launch its first online platform in the US marketplace.
China, June 17, 2014 - (PressReleasePoint) - Alpha Resource Partners: Internet e-commerce giant, Alibaba says it is to launch its first online shopping platform in the US as part of a move to extend its sphere of operations outside China where it facing increasing competition from rivals like Tencent Holdings.
The announcement comes ahead of Alibaba’s initial public offering (IPO) in the US which is widely expected to be the largest ever by a technology company. The platform, called 11Main, will initially only be accessible to customers with an invitation and will feature stores ranging from upmarket boutiques to specialist retailers many of whom have struggled to reach customers on account of their small size.
"Our view is that 11Main will find that the US market is far more competitive and rivals spend inordinate sums of money on marketing in their efforts to distinguish themselves from all the other players," said an Alpha Resource Partners researcher.
In China, the world’s largest internet market with some 600 million users, Alibaba effectively controls 80% of all online shopping with enormous volumes bought and sold across its numerous platforms but it is facing growing and more effective competition from rivals who are stronger in certain areas like mobile and video delivery.
The impending IPO will almost certainly value the company at over $150 billion and make overnight billionaires of several senior Alibaba executives
“Alibaba will face intense competition from the likes of Amazon and eBay, both of whom are fantastic innovators with enough financial muscle to go toe to toe with Alibaba,” said the Alpha Resource Partners researcher.
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