According to published reports, Alibaba Group Holding is selling its e-commerce operation in the United States, 11 Main, to online marketplace OpenSky. The 11 Main operation, launched last year, was an attempt to establish a small town shopping experience online.
In the deal, Alibaba, the world’s largest e-commerce operator and a dominant force in Chinese retailing, will take a 37.6% stake in OpenSky, which is based in New York, according to the reports.
An Alibaba spokesperson, told HomeWorld Business, via email, “OpenSky and 11 Main will be joining forces, and we believe together the combined business will be a strong and healthy independent company in which Alibaba will continue to have a significant equity stake.”
The OpenSky marketplace, the company reported, includes 50,000 individual businesses and emphasizes unique goods and curated assortments from the individual participants.