June 11 Chinese e-commerce company Alibaba Group
Holding Ltd IPO-ALIB.N is launching its first U.S.
direct-to-consumer online shop on Wednesday, the Financial Times
and other media reported.
The website will operate as a marketplace similar to
Alibaba's China-based TMall, which offers virtual store fronts
to merchants who set their own prices and handle their own
logistics for nearly everything but payments, the newspaper
The website, 11 Main.com, was showing an "opening soon"
message early on Wednesday. "Our shop owners are currently
unpacking and getting settled," the site said. (r.reuters.com/kam99v)
Alibaba spokeswoman Florence Shih directed queries to
representatives of 11 Main, who did not immediately respond to
an email seeking comment.
Reuters reported in February that Alibaba was set to launch
its U.S. e-commerce website through its subsidiaries Vendio and
Alibaba's planned U.S. initial public offering has stirred
the most excitement on Wall Street since Facebook's record IPO
in 2012. Alibaba will become the largest Chinese corporation to
list in the United States.
(Reporting by Supriya Kurane and Ankush Sharma in Bangalore;
Editing by Ted Kerr)