Alibaba Set To Seal Deal To Acquire Cross-Border Platform Kaola

Chinese e-commerce giants Alibaba may finally be sealing the deal to acquire NetEase’s cross-border e-commerce platform, Kaola.

The deal which is said to be worth $2 billion in cash and shares would make Kaola a part of Alibaba’s Tmall Global but would still run as an independent company.

Recall sometime in August Alibaba wanted to acquire Koala for $2 billion but the deal didn’t work out because they didn’t agree on the price.

Reports also suggest that all stock belonging to employees will be converted to Alibaba shares. That not all, even if Koala is gonna function as an independent company, Alibaba is gonna be appointing a new CEO to replace it Zhang Lei.