Alibaba Opens B2B Platform To American Small Businesses

Chinese e-commerce giant Alibaba Group Holding Ltd BABA announced Tuesday a new platform to help U.S. businesses "sell to the world."

What Happened

Alibaba opened its e-commerce network to nearly 30 million small and medium-sized U.S.-based businesses Tuesday, including manufacturers, wholesalers and distributors, the company said in a press release.

This opens access to the $23.9-trillion global business-to-business e-commerce market which is six times larger than the business-to-consumer e-commerce market, Alibaba said. 

Alibaba said it will host the first of many "Build Up" workshops and webinars Tuesday with local chambers of commerce. The event includes in-depth workshops, one-on-one training and consultation from Alibaba experts.

Attendees will also receive discounts, incentives, and additional support.

Why It's Important

Alibaba boasts 10 million active business buyers across 190 countries and regions and is now focused on letting U.S. entrepreneurs "succeed on their own terms," John Caplan, Alibaba's head of North America B2B, said in a statement. 

The company said it wants to offer the necessary tools and services for American businesses to better "compete and succeed" in the global marketplace.

What's Next

Alibaba's longer-term plans include the addition of global payments and order protection services; local and global shipping and logistics options; and new collaborations to further expand the "breadth and quality" of supply and demand on its platform, according to the company. 

Alibaba shares were higher by 1.13% at $175.96 at the time of publication Tuesday. 

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Photo courtesy of Alibaba.