With Alibaba Investment in ShopRunner, CEO Scott Thompson Gets His Second Deal With Jack Ma


ShopRunner, the two-day online retail shipping service that aims to compete with Amazon Prime, is close to landing a large investment from the Alibaba Group, according to sources that confirmed reports, including one in The Wall Street Journal.

The two sides have been discussing a deal to invest more than $70 million for a minority stake in the company, which offers free two-day shipping at dozens of retailers to its members who pay $79 annually. The investment would be important to Alibaba, which has been investing in a range of companies as it seeks to compete more aggressively against Amazon.

And it’s a nice chunk of change for the startup, of course, but perhaps the most interesting aspect of the possible investment is that it would mark the second agreement with the powerful Chinese e-commerce company for Scott Thompson, the current ShopRunner CEO and former Yahoo CEO.

As many know, Thompson left Yahoo under a cloud, after the controversy over inaccuracies on his resume forced his departure from the Silicon Valley Internet giant.
But before he departed he was one of the key dealmakers in the major Yahoo agreement with Alibaba Group, in which it sold back half its stake and got billions of dollars in return. While the transaction was announced after Thompson was ousted, there was no question that it left new CEO Marissa Mayer with a huge cash kitty that she has

Read the rest of this post ----->
Share on Google Plus

About Doru Somcutean

Hello, my name is Somcutean Doru and I'm from Romania.

I really like to read reviews and see what's new about technology, on D-BLOG I share with you articles/reviews that I find interesting. I also write some reviews in romanian...

My second blog is D-NEWS , here are some movie reviews , my favorite songs or clips that I like...is more like a personal blog...so please don't get in because you'll get really bored.

I hope you like it!

0 comentarii:

Post a Comment