Alibaba boosts its stake in online retailer Zulily to 9.3%
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ALIBABA Group Holding, China's biggest e-commerce company that held its initial public offering last year, bought US$56.2 million of stock in US online retailer Zulily Inc last week, according to a regulatory filing.
The purchases brought Alibaba's holdings of Seattle-based Zulily to 11.5 million shares, or a 9.3 per cent stake, according to regulatory filings and data compiled by Bloomberg. Alibaba's Zulily holdings were worth US$152.9 million at Friday's closing price of US$13.30.
