The Traderszone Network

Published in TZ Latest News 9 May, 2015 by The TZ Newswire Staff

Alibaba boosts to 9.3% its stake in online retailer Zulily

Alibaba Group Holding Ltd., China’s biggest e-commerce company that held its initial public offering last year, bought $56.2 million of stock in U.S. online retailer Zulily Inc. this week, according to a regulatory filing. The purchases brought Alibaba’s holdings of Seattle-based Zulily to 11.5 million shares, or a 9.3 percent stake, according to regulatory filings and data compiled by Bloomberg. Alibaba’s Zulily holdings were worth $152.9 million at Friday’s closing price of $13.30.

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