Alibaba Makes First-Ever Investment of $71M in South Korea's Ably, Secures 5% Stake

GuruFocus.com12-02 23:05

Alibaba Group (BABA, Financial) has invested in equity in a South Korean shopping platform by acquiring a 5% stake in fashion app operator Ably Corp. for $71.4 million. The deal is worth $2.1 billion,...

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The deal is worth $2.1 billion,...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-makes-first-ever-investment-150526375.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0310800965.SGD","symbol_name":"FTIF - Templeton Global Balanced A Acc SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/alibaba-makes-first-ever-investment-150526375.html","article_id":"2488544939","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/WYGAVu1AjY3HSSxm2cl6vQ--~B/aD0zNjY7dz01NTA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/d5a67552d9ace1c8ca0126799638fa23"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488544939","pubTimestamp":1733151926,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Alibaba Group  has invested in equity in a South Korean shopping platform by acquiring a 5% stake in fashion app operator Ably Corp. for $71.4 million. 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The deal is worth $2.1 billion, making Ably Corp. South Korea's first unicorn startup of 2024.\n\nWarning! GuruFocus has detected 4 Warning Signs with BABA.\n\nThe decision reflects Alibaba's focus on foraying into the fast-growing segment of the online fashion industry in South Korea, where its main platform, AliExpress, is already challenging domestic leaders such as Coupang and Gmarket, as well as Chinese contenders Temu and Shein. By having a share in Ably, Alibaba gets a nice shot at the Korean market, which is experiencing growth in the digital retail market.\nExisting in the fashion niche, Ably has earned the recognition of a unicorn due to steady growth in a highly competitive niche that focuses on women's clothing. The investment will enable Alibaba to capitalize on the growing consumer preference for online fashion in South Korea as part of the group strategy.\nThis acquisition arrived when Alibaba was still steadily increasing its control of the global e-commerce market and deploying its strategic objective to extend its domination in the relevant overseas markets. Ably is now entering the list of high-growth startups, and Alibaba's participation can definitely help Ably move up in the highly saturated South Korean fashion industry.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488544939"}