China's Alibaba acquires minority stake in online shopping firm ShopRunner

Washington, Aug. 18 (ANI): Alibaba has purchased a minority stake in online shopping network ShopRunner for 75 million dollars.

The move comes as the Chinese e-commerce company is looking for investments aimed at helping it learn more about the U.S. retail market.

According to Fox News, earlier this year, Alibaba invested in sports apparel retailer Fanatics.

ShopRunner is led by former Yahoo Inc. Chief Executive Scott Thompson.

Yahoo owns a 24 percent stake in Alibaba. (ANI)

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

Matches

  • No live matches are in progress.
    • Team flag for South Africa vs. Team flag for New ZealandNZSA
      2nd Test
      Sat, Aug 27, 2016
      Sat, Aug 27, 2016
      Centurion, South Africa
      New Zealand in South Afric...
    • Team flag for England vs. Team flag for PakistanPAKENG
      2nd ODI
      Sat, Aug 27, 2016
      Sat, Aug 27, 2016
      London, England
      Pakistan in England ODI Se...
    • Team flag for West Indies vs. Team flag for IndiaINDWI
      1st T20I
      Sat, Aug 27, 2016
      Sat, Aug 27, 2016
      Lauderhill, Florida, Usa
      India vs West Indies T20 S...