Alibaba.com to buy U.S. e-commerce site Vendio
LOS ANGELES (Reuters) - Top Chinese e-commerce firm Alibaba.com, plans to buy Vendio Services Inc, making its first major U.S. acquisition to further its strategy of expanding its global footprint.
The fast-growing Web operator founded by outspoken entrepreneur and former schoolteacher Jack Ma, has been trying to make further inroads into the United States and India.
Vendio offers the same Internet business services in the United States as Alibaba, which connects millions of buyers and sellers around the world. Alibaba.com is the listed unit of the Alibaba Group, of which Yahoo owns nearly 40 percent.
The start-up already hosts services for 80,000 small U.S. businesses, which can now link into Alibaba's network of buyers and suppliers.
"From the Vendio Platform, merchants can source products from Alibaba.com's trusted supplier network and sell through channels such as eBay, Amazon, and their own Vendio-supported store," the company said in a statement. Terms of the deal were not disclosed.
Web commerce in China has surged as buyers tap the Internet for better deals from more suppliers in the nation's highly fragmented distribution networks.
In its first quarter, Alibaba reported its best results in a year on strong paid-customer growth, and predicted increased use of its value-added services for the year.
Alibaba.com competes with Global Sources in China's 1.5 billion yuan business-to-business (B2B) marketplace industry.
Alibaba shares closed up 1 percent at HK$16.34 in Hong Kong.
(Reporting by Carolina Madrid; Editing by Tim Dobbyn)
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