Ali · Baba Chinese e-commerce giant launched a joint venture with a leading Internet company in the country for $ 2 billion.
Russia has over 70 million Internet users, there are millions of people attracted by about half of the population and neighboring Russian-speaking countries. Like many parts of the world, as smartphone growth is bringing more people online, numbers are expected to increase. Now, Alibaba is moving to confirm that it is in a position to take advantage of it.
Mail.ru, a Russian company that provides a variety of Internet services, such as providing social media, e-mail, and food to 100 million registered users, has partnered with Alibaba to launch AliExpress. Russia is a joint venture that believes it functions as a "single destination" for communication, social media, shopping and games. MegaFon (communications company), a patron of Mailer.ru, and the Russian FDI (RDIF), a national sovereign wealth fund, also invested unpublished amounts in the new organization.
Alibaba who started AliExpress service several years ago in Russia holds 48% business, 24% for MegaFon, 15% for Mail.ru, 13% from RDIF. In addition, MegaFon has agreed to exchange 10% of Mail.ru's stock with Alibaba. This will allow the joint venture to earn an estimated $ 2 billion.
This number does not include other investment.
"The parties will inject …
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Game based joint venture, refueling Russia with shopping etc. Alibaba
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