Alibaba Group invested $192 million in Aliexpress Russia last year. This only became known today, when Jack Ma’s company published its annual financial report. Alibaba’s share in Russian AliExpress remained at the same level: 47.8%.
It appears from the report that other owners of Aliexpress Russia, in addition to Alibaba Group, participated in the $192 million funding round, which was held in August 2021.
Aliexpress Russia is a joint venture between Alibaba Group, Mail.ru Group (VK), USM International and the Russian Direct Investment Fund. The largest part belongs to the Alibaba Group and is 47.8%.
In August 2021, when the round was held, it was reported that VK would invest $60.3 million in Aliexpress Russia, at the time, it was not known how much the rest of the market shareholders were going to invest.
By the end of 2021, the turnover of goods “AliExpress Russia” reached 306 billion rubles, an increase of 46% year-on-year.
Author:
Kirill Bilyk
Source: RB
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