Coming to America: China's Alibaba to Buy Vendio in Expansion Move
Vendio provides a platform for setting up online stores and resell goods via major e-tailers. The deal, announced Thursday, is designed to allow Vendio's more than 80,000 U.S. small business customers the ability to access Alibaba's network of wholesale suppliers through its AliExpress. And for AliExpress customers, they can funnel their goods through Vendio's software service for resale on Amazon.com (AMZN), eBay (EBAY), Google (GOOG) and other e-commerce sites.
Vendio is part of Alibaba's strategy to grow its AliExpress via a $100 million investment plan announced in April. Terms of the deal were not disclosed, and the companies expect to wrap it up next month. Vendio will become a business unit within Alibaba and retain its name and operations.