Chinese Alibaba is apparently gearing up to buy Kaola, NetEase’s e-commerce arm.
The financial blog IPO Zaozhidao has spoken with people familiar with the situation who alleged that the deal is essentially agreed upon, save for a few minor details. The deal could be worth millions.
If completed, the sources said Kaola would be integrated and cooperate with Tmall International, the Chinese-language website for business to consumer online retail. The talks had apparently begun earlier in the year when Koala was looking for sales and investment opportunities.
Recently, Alibaba partnered up with the Nigerian FinTech company Flutterwave in July 2019. The deal would allow Flutterwave to more easily tap into the China-Africa trading market.
In other deals, Alibaba bought a third of the shares in Ant Financial, the online payments company, in February 2018.
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