Chinese e-commerce company which operates Alibaba.com has opened offices in Russia.
AliExpress, a subsidiary of Alibaba, is already a leading e-commerce company on the Russian market by number of users and orders. Last year AliExpress reached 15.6 million Russian customers a month, while US heavyweights eBay and Amazon had just 3.7 and 1.4 million, respectively.
Alibaba’s market value measures staggering US$231 billion. Alibaba’s debut at the New York Stock Exchange late last year, was the largest IPO in history.
Director for AliExpress in Russia Mark Zavadskiy said:
Alibaba Group founded a new company in Russia in order to further expand our business and support our partners, and also to facilitate cooperation with the Russian authorities.
Skolkovo, Russia’s Silicon Valley near Moscow, announced a partnership with Alibaba’s new Russian company to create the AliExpress Challenge B2C.
This aims to allow Skolkovo microelectronics start-ups to pitch ideas to a panel, which would select the winners. They will receive access to fast-track programs, and support, but most importantly backing of AliExpress to reach international markets.
The contest will consist of two categories -one for solutions that are still at the idea stage, the other for market-ready products.
Jack Ma, who founded Alibaba in 1999 is expected to attend St. Petersburg International Economic Forum to be held mid-June.
via Marshall Horn, CFTC Chinese Giant Alibaba Opens Company in Russia
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