Acquisition will help customers transition from “Meet at Alibaba” to “Work at Alibaba”
HONG KONG, November 15, 2010 – Alibaba.com Limited (HKSE: 1688) (1688.HK), the world's leading small business e-commerce company, has entered into an agreement to acquire Shenzhen One-Touch Enterprise Service Limited (“One-Touch”), a provider of one-stop services for exporters in China. Introducing One-Touch’s services to Alibaba.com’s China Gold Supplier members will allow them to conduct export business more effectively. This investment furthers Alibaba.com's goal of transforming its platforms from “Meet at Alibaba” to “Work at Alibaba.”
One-Touch is a pioneer and leading provider of comprehensive export-related services tailored to the needs of small businesses in China, including customs clearance, logistics, cargo insurance, currency exchange, tax refund, financing and certification, etc. With the acquisition of One-Touch, Alibaba.com not only gains a strong management and operating team, but also expects to improve the stickiness of its website by adding to the range of export-related value-added services available to members in the whole transaction chain. Services including those from One-Touch will be available through the China Gold Supplier 2011 edition.
“Against the backdrop of slower growth of exports and narrowing profit margins for exporters in China, we felt the obligation to help our customers stay competitive and enhance margins," said David Wei, chief executive officer of Alibaba.com. "This acquisition underscores what we mean by ‘Work at Alibaba.’ One-Touch will bring a lot of synergies to our business and enhance our members’ user experience by reducing the time and money they spend managing their export process and procedures.”
This is Alibaba.com's fifth acquisition in the past 12 months, following Alisoft, a "software-as-a-service” provider; Hi-China, an Internet infrastructure services company; and Vendio and Auctiva, two leading U.S. providers of e-commerce solutions for online merchants. Financial terms of this transaction were not disclosed.
About Alibaba.com Limited
Alibaba.com (HKSE: 1688) (1688.HK) is the global leader in e-commerce for small businesses and the flagship company of Alibaba Group. Founded in 1999 in Hangzhou, China, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces: a global trade platform (www.alibaba.com) for importers and exporters; a Chinese platform (www.1688.com) for domestic trade in China; and, through an associated company, a Japanese platform (www.alibaba.co.jp) facilitating trade to and from Japan. In addition, Alibaba.com offers a transaction-based wholesale platform on the global site (www.aliexpress.com) geared for smaller buyers seeking fast shipment of small quantities of goods. Together, these marketplaces form a community of more than 56 million registered users in more than 240 countries and regions. Alibaba.com also offers business management software and Internet infrastructure services targeting businesses across China, and provides educational services to incubate enterprise management and e-commerce professionals. Alibaba.com also owns Vendio and Auctiva, leading providers of third-party e-commerce solutions for online merchants. Alibaba.com has offices in more than 60 cities across Greater China, India, Japan, Korea, Europe and the United States.
About Shenzhen One-Touch Enterprise Service Limited
Established in 2001, Shenzhen One-Touch Enterprise Service Limited is China’s first provider of a one-stop import and export service platform targeting small and medium enterprises (SMEs). Through the Internet, it provides SMEs and individuals with services covering different procedures in import and export, including customs clearance, logistics, financing, etc. One-Touch has streamlined the business processes of global trade players by centralizing scattered trade-related services for SMEs and individuals, enabling them to lower operating costs, improve efficiencies and access capital for developing their business. One-Touch is committed to serving the SME sector by making it easy for SMEs to participate in global trade.
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