By  on September 6, 2019

Alibaba will acquire cross-border platform Kaola from NetEase for $2 billion, the company said Friday, in a deal that will allow the group to control over half of China’s cross-border ecommerce market.

Kaola, which sells a wide array of imported products in China from clothes, beauty, consumer electronics, and more, will continue to operate independently under its current brand, although Tmall import and export general manager Alvin Liu will take on the role as Kaola’s new chief executive officer.

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