Peer-to-peer financing site Lending Club and have put in place a strategic partnership designed to get more U.S. businesses to buy inventory from the alibaba.com’s wholesale marketplace. They will offer a new financial service called the alibaba.com e-Credit Line that will let U.S. companies apply for credit lines for $5,000 to $300,000, which they can then use to make purchases from the e-commerce giant. Continue reading… “Alibaba and Lending Club start new financing program for U.S. businesses”
Alibaba, the Chinese e-commerce giant, sold one trillion RMB worth of goods in 2012, the company announced today. That’s $157 billion U.S. in gross merchandise volume (GMV), which easily surpasses U.S e-commerce giants Amazon and eBay combined.
Three billion dollars is almost triple the entire 2011 Black Friday sales of e-commerce sites in the United States.
The Chinese e-commerce giant Alibaba shocked the web last week with the news that its subsidiaries Taobao (like a Chinese eBay) and T-mall (like Amazon) sold a massive $3.06 billion in product in a single 24-hour period.