Alibaba Acquires Auctiva
The acquisition will give Auctiva customers access to AliExpress, Alibaba's wholesale sourcing platform for small businesses, from within their Auctiva accounts.
Jeff Schlicht, who will continue as Auctiva CEO, said "With more than 10,000 new users joining Auctiva each month, we are constantly looking for new ways to serve our customers and drive value for them. Joining Alibaba.com and connecting our buyers to the vast supplier base on Alibaba.com and AliExpress.com is the perfect way to help them grow and thrive in an increasingly competitive environment."
The acquisition is part of a $100 million investment plan for AliExpress that Alibaba.com announced in April 2010. Auctiva will operate as a new business unit within Alibaba.com and will retain its own brand name and operations.