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Alibaba makes a second US purchase


6:17 am on Aug 25, 2010 (gmt 0)

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Alibaba makes a second US purchase [ft.com]

Alibaba.com, the top online service matching manufacturers and wholesalers, on Tuesday night announced its second US acquisition this summer as part of a $100m plan to boost its presence in the world’s largest economy.

The company based in Hangzhou, China, paid an undisclosed amount to buy Auctiva, a closely held California company that sells tools to help businesses list their offerings on auction site Ebay.

Auctiva’s profitable model is similar to that of Vendio, another US company that Alibaba bought in June. But Auctiva is larger, processing about $5bn in goods annually versus $2bn at Vendio, said Alibaba chief executive David Wei.