Chinese Alibaba Investing in Israeli Startups

E-commerce giant partners with venture capital firm JVP to invest in promising firms. The amounts involved are not known.

Gil Ronen,

Jack Ma, Alibaba CEO
Jack Ma, Alibaba CEO
Reuters

Two months after making its first investment in Israel, Chinese e-commerce giant Alibaba is partnering with venture capital firm JVP (Jerusalem Venture Partners) to invest in promising startups. The amount of money involved was not disclosed.

An Alibaba spokesperson told TechCrunch “the JVP investment is in line with our mission of supporting innovation and startups,” but did not offer more specific information about the kind of companies it will be investing in.

In January, Alibaba announced an investment in Israeli start-up Visualead, a provider of QR code technology. The deal will allow Alibaba to use Visualead's technology across its platforms, and Visualead will use the funding to develop its next generation of technology enabling offline to online business.

Alibaba, which listed on the New York Stock Exchange last year, is estimated to hold over 90 percent of the Chinese market for consumer-to-consumer transactions through its Taobao platform, which has more than 800 million product listings and around 500 million registered users.




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