Alibaba Acquires Import E-Commerce Platform Kaola from NetEase for Approximately US$2 Billion

HANGZHOU, China, Sept. 5, 2019 /PRNewswire/ — NetEase, Inc. (“NetEase”) (NASDAQ: NTES) and Alibaba Group Holding Limited (“Alibaba”) (NYSE: BABA) today announced Alibaba’s acquisition of NetEase’s import e-commerce platform Kaola for approximately US$2 billion. The transaction paves the…