China: enters US market is ready to make Los Angeles its first stop in the US before the end of this year. It is going to be a great challenge for the company to compete against Alibaba and Amazon. is now estimated to be worth over 68 billion dollars. In order to expand overseas, it has already kicked off a fundraising round at its logistics unit. At this moment, is at the final stage of negotiations to sell 15% of its logistics arm to shareholder Tencent and other investors. Richard Liu, the founder of, said that Tencent will get about a third of the shares. The deal should be completed by the middle of February.

Source: Sina Finance

Publication date: 1/31/2018

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