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Alibaba buys 9.2% Zulily stake

Chinese ecommerce giant Alibaba has acquired a 9.2% stake in flash sales site Zulily, according to regulatory papers.

Documents filed to the US Securities and Exchange commission on Friday May 8 show the business made the purchase at a cost of $56m, according to the Telegraph.

Zulily shut its UK office in February this year and moved operations to its US arm. UK shoppers are currently shipped to from the US, Canada and Australia.


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