Alibaba introduces U.S. online shop

|About: Alibaba Group Holding Limited (BABA)|By:, SA News Editor

Alibaba (ABABA) has bought its way into the U.S. market, with the launch today of The website is the first direct-to-consumer U.S. online shop for the company in the United States, and has been developed by two of Alibaba’s wholly owned American subsidiaries.

The website will function similar to Alibaba’s China-based TMall, which offers virtual store fronts to merchants who set their own prices and handle their own logistics.

11 Main will handle all payments on the site, and take a 3.5% cut of each transaction.

Alibaba is expecting its IPO this summer.