Reuters - Video

EDITION: U.S. | U.K. | IN

9/11

Alibaba's 11main aims at Amazon's home turf

Wednesday, June 11, 2014 - 02:05

June 11 - Alibaba is launching 11main, an online market place that will compete with Amazon and other online retailers, just as it announces another deal- this one to buy UCWeb . Bobbi Rebell reports.

▲ Hide Transcript

View Transcript

Alibaba unveiled its new U.S. website, "11main", greeting U.S. customers with a home page saying "opening soon". Part of a ramp up of its international expansion ahead of its expected $140 billion dollar initial public offering. The site takes aim at Amazon and eBay, but with a boutique feel. Forrester's Kelland Willis: SOUNDBITE: KELLAND WILLIS, ASSOCIATE ANALYST, FORRESTER (ENGLISH) SAYING: "I think that in the immediate future this isn't going to be a massive threat to amazon and eBay. They only have about a thousand vendors right now, meaning that their product inventory is quite low. But as they continue to develop their offering, I think that Amazon and eBay need to watch out, especially given that Alibaba has acquired companies that right now are directly servicing eBay, for example Auctiva and Vendio." And that's where things get really interesting. Because those two companies, that Alibaba bought in 2010, help businesses sell on eBay and Amazon's websites. And it is those businesses that helped conceive and create 11main- now their rival. Alibaba has been on a buying spree, just Wednesday announcing plans to buy the remaining shares of mobile browser company UCWeb. That helps it against its rival Tencent, owner of WeChat. Alibaba's latest deal- the biggest merger in Chinese internet history- comes on the heels of a string of investments that already total nearly $10 billion since the beginning of last year. All of which raises its profile ahead of the IPO: SOUNDBITE: KELLAND WILLIS, ASSOCIATE ANALYST, FORRESTER (ENGLISH) SAYING: "I don't know if any other online player has invested so much in becoming this e-commerce super power and up until now mobile and social have been Alibaba's achilles heel but now with the acquisition of UCWeb they are going to be able to get into a space that traditionally they have been somewhat weak in. " And it recently set up an investment division in the U.S., which follows its $200 million investment in American retail site Shoprunner.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Alibaba's 11main aims at Amazon's home turf

Wednesday, June 11, 2014 - 02:05

Top News »

Most Popular »

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

Money Clip »

Will Apple Pay transform mobile payments? Will Apple Pay transform mobile payments?

Thu, Oct 16, 2014 - (2:45)

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, Oct 20, 2014 - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)