Chinese e-commerce company Alibaba Group Holding Ltd unveiled its first direct-to-consumer online shop in the United States on Wednesday, looking to take on Amazon.com Inc and eBay Inc on their home turf.<\/p>\n
The website, 11main.com, which is currently in beta, will feature a wide range of products, including “one-of-a-kind items, not available at mass merchants and other large e-commerce sites,” Alibaba said.<\/p>\n
The website displayed an “opening soon” message early on Wednesday. “Our shop owners are currently unpacking and getting settled,” the site said.<\/p>\n
The invitation-only marketplace, which Alibaba said would be “inspired by the local Main Street shopping experience,” will offer products in a variety of categories such as fashion and style, home and outdoor, and jewelry and watches.<\/p>\n
The announcement comes as Alibaba prepares for a U.S. initial public offering that is expected to raise more than $15 billion – the most since Facebook’s IPO in 2012.<\/p>\n
The company, founded by Jack Ma, controls 80 percent of all online retail in China, handling about $250 billion in 2013 – more than Amazon and eBay Inc combined.<\/p>\n
Reuters reported in February that Alibaba was set to launch a U.S. e-commerce website.<\/p>\n
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