Alibaba Announces New US E-commerce Platform Before Going Public
Creating waves in today’s global marketplace is a challenge in itself.
However, for one e-commerce company waves are simply not big enough. They are aiming to create a global hurricane, and it’s quickly approaching landfall.
Chinese e-commerce giant Alibaba Group has announced the release of an invitation only e-commerce platform called 11 Main in the United States. The release of the new marketplace comes just before Alibaba is expected to make its Initial Public Offering (IPO) on the New York Stock Exchange in early August where it’s expected to be valued at $153 billion.
11 Main is an invitation only marketplace meaning that in order to shop or become a merchant on the platform you must apply to become approved first. Vendio Services and Auctiva, U.S. subsidiaries of Alibaba, launched the new platform run by Mike Effle. 11 Main is the latest overseas venture by Alibaba and joins the e-commerce company’s other foreign platforms onetouch.cn, aliexpress and tmall.hk.
“At 11 Main, we’re passionate about the shops we invite and helping them grow,” previously stated Mike Effle, president and general manager of 11 Main. “We’re constantly introducing new shop owners who represent the diversity of Main Street and featuring their new, amazing products in a beautifully designed experience.”
Companies already on 11 Main's marketplace are Sole Bicycles, Jewelry Lady, TAY Skin Care and Aegis Handcraft.