Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) owns a stake of about 9 percent in the company. Billionaire John Malone-backed Liberty will combine the five-year old Zulily with its QVC business, which is about 30 years old and seen by analysts as a maturing business in the United States. QVC has been expanding its digital presence – 40 percent of its revenue comes from e-commerce.