The New CEO of Vendio Speaks To ColderICE About the Alibaba Acquisition

Alibaba.com, the world’s leading e-commerce company for small business, has entered into an agreement to acquire Vendio Services, Inc., a multi-channel e-commerce company providing a one-stop solution for small businesses that are selling online across multiple channels . The company is 40 percent invested by Yahoo!, 30 percent invested by Softbank, and the Alibaba management own the rest of the shares. Back in 1999 Alibaba was a  small business with only $50,000 U.S. capital to start with, and 18 people working with Jack Ma. Now, it has 18,000 people working globally. Alibaba.com became a public company in 2007 and its market cap is over $13 billion today.

Vendio supports over 80,000 small and medium online retailers in the States, and the U.S. from day one has been a very important market to Alibaba.com. Those 80,000 retailers are generating over $2 billion U.S. worth of GMB every year.

There is SO MUCH going on with M&A (mergers and acquisitions) this summer, my head is spinning to keep up. We will cover alot of this stuff on Late Night BETA but listen to this interview with the future CEO of the newly acquired Vendio Mike Effle.

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Also check out this BONUS interview with the CEO of Alibaba, David Wei from Practicle eCommerce

 
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