Chinese to buy U.S. e-commerce site Vendio

Top Chinese e-commerce firm, plans to buy Vendio Services Inc, making its first major U.S. acquisition to further its strategy of expanding its global footprint.

Founded by entrepreneur and former schoolteacher Jack Ma, wants to increase its presence in US and India.

Vendio offers the same Internet business services in the United States as Alibaba. is the listed unit of the Alibaba Group, of which Yahoo owns nearly 40 percent.The start-up already hosts services for 80,000 small U.S. businesses, which can now link into Alibaba's network of buyers and suppliers.

With this acquisition, merchants can source products from's trusted supplier network and sell through channels such as eBay, Amazon, and their own Vendio-supported store, right from the Vendio Platform.

Terms of the deal were not disclosed. --------

No comments