ShopRunner, an American online shopping company and competitor to Amazon, has gained investments of USD206 million in the latest financing round, which is reportedly led by China's Alibaba Group.
This represents a major U.S. move for the Chinese e-commerce group, who is considering an initial public offering in the country.
Prior to this, Alibaba already made investment in ShopRunner, which offers unlimited two-day shipping for retailers, including Toys-R-Us and RadioShack, for a USD79 annual fee. American Express also owns a small stake in ShopRunner.
The financial details about Alibaba's investment in ShopRunner was not revealed; however, it is said the group's investment will account for a major part of the total financed capital.
Media reports in August 2013 disclosed that Alibaba planned to invest USD70 million in ShopRunner.
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