360° Coverage : Alibaba's first US presence 11 Main debuts

2 Updates

Alibaba's first US presence 11 Main debuts

Jun 11 2014, 8:46am CDT | by

NEW YORK (AP) — China's largest e-commerce company is making its first appearance in the U.S. with the debut of 11Main.com, an invite-only online marketplace that showcases small...

Filed under: news

 
 
 

14 weeks ago

Alibaba's first US presence 11 Main debuts

Jun 11 2014, 8:46am CDT | by

NEW YORK (AP) — China's largest e-commerce company is making its first appearance in the U.S. with the debut of 11Main.com, an invite-only online marketplace that showcases small business retailers.

Industry watchers will be paying close attention since 11 Main is owned by Alibaba, the e-commerce giant in China that filed for an initial public offering in the U.S. in May. Bigger than Amazon and eBay combined, Alibaba had no U.S. e-commerce presence until now.

Forrester analyst Sucharita Mulpuru believes Alibaba won't find it easy to break into the already-crowded online shopping industry.

"U.S. e-commerce is crowded and relies on high marketing expenses to rise above the clutter," she said. "The hope is high. We'll see if they live up to expectations."

For now, Alibaba is starting small with 11 Main, based in San Mateo, California. The site, which debuts Wednesday in a beta phase, will feature "hundreds of thousands" of products from 1,000 to 2,000 upscale specialty shops and boutiques around the country that were vetted by 11 Main.

11 Main is going live just as Alibaba prepares to go public. Although it's not well-known in the United States, Alibaba is a powerhouse that helped drive the rise of e-commerce in China, a transformation that has given millions of households greater access to clothes, books and consumer electronics in a society that in the 1980s still required ration tickets for some supermarket items. The 15-year-old company has navigated technical and financial challenges and a battle with eBay Inc. to become the world's biggest online bazaar and is now planning to sell stock in the U.S. Analysts say its initial public offering — planned for later this year— could raise up to $20 billion.

The site's layout is clutter free and without ads, similar to social-media sharing site Pinterest. Shoppers can browse or search by category or retailer. The site features video profiles of some of the small businesses along with its products to give users a sense of what the stores and their owners are like.

Without ads or retailer fees, 11 Main plans to generate revenue by taking a 3.5 percent cut of each transaction. In return, retailers get 11 Main's national marketing power and reach.

"We want the shops to represent the diversity of Main Street. Some shops are high-end boutiques and some are more vintage," said Mike Effle, president and general manager of 11 Main.

Tiger Bachler is one of the site's beta vendors. She owns Alys Grace, a three-shop chain in California's Bay Area that offers upscale clothing and accessories like $175 Chan Luu scarves and $300 Diane Von Furstenberg dresses. The stores are well known in the area and the company already has an online presence at www.alysgrace.com, but Bachler said it's hard to direct customers to the site because the company does mainly local advertising.

"We've been struggling with the ability to reach a large audience being a small business," she said. "We anticipate (11 Main) will be able to give us a wider audience with their marketplace expertise and marketing power."

The site is going to begin as invitation-only when it launches on Wednesday, consumers can request an invite at 11main.com.

 
Update
2

3 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a n ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

3 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH17 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/31" rel="author">Associated Press</a>
The Associated Press (AP) is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers.

 

blog comments powered by Disqus

Latest stories

Communicable diseases warning issued after floods in Philippines
Manila, Sep 20 (IANS) The Philippines Department of Health (DOH) Saturday warned the public of the transmission of communicable diseases following the floods that inundated Manila and surrounding provinces.
 
 
Pakistan facing over 6,000 MW power shortfall
Islamabad, Sep 20 (IANS) Pakistan is facing an electricity shortfall of over 6,000 MW, with many parts of Punjab province witnessing outages of 20 hours a day.
 
 
'Most British female students face sexual advances on campus'
London, Sep 20 (IANS) Over one-third of British female university students have faced unwanted sexual advances on campus while studying, reveals a new poll.
 
 
More Hubble observation time goes to men: Study
Washington, Sep 20 (IANS) In a disturbing trend, an internal Hubble Space Telescope (HST) study has found that in each of the past 11 observation proposal cycles, applications led by male principal investigators had a higher success rate than those led by women.
 
 
 

Latest from the Network

John Cusack: Young fame is hard
John Cusack thinks being a child star is ''brutal''. The 'High Fidelity' actor - who appeared in his first film 'Class' aged 16 - believes finding fame at a young age can be a ''damaging'' experience and feels he's had...
Read more on Movie Balla
 
Indian lifters fail to impress at Asiad
Incheon, Sep 20 (IANS) Indian weightlifters began their Asian Games campaign on a disappointing note as all three participating contestants finished at the bottom half of the table in their respective categories in...
Read more on Sport Balla
 
Released Turkish hostages join families in Ankara
Ankara, Sep 20 (IANS) Forty six Turkish hostages released by the Islamic State (IS) militant group returned to the Turkish capital of Ankara by the special plane of Turkish Prime Minister Ahmet Davutoglu and were...
Read more on Politics Balla
 
Indian women shuttlers in semis, men out (Roundup)
Incheon, Sep 20 (IANS) The Indian women's badminton team lived up to its potential to reach the semi-final at the Asian Games at the Gyeyang Gymnasium here Saturday. The shuttlers first beat Macau 3-0 in the Round of...
Read more on Sport Balla
 
Indian medallists at Asian Games
Incheon, Sep 20 (IANS) The following were the medallists for India on the first day of competition at the 17th Asian Games here Saturday: Gold: Jitu Rai: Men's 50 metre pistol shooting Bronze: Shweta Chaudhary: Women'...
Read more on Sport Balla
 
Communicable diseases warning issued after floods in Philippines
Manila, Sep 20 (IANS) The Philippines Department of Health (DOH) Saturday warned the public of the transmission of communicable diseases following the floods that inundated Manila and surrounding provinces. The DOH...
Read more on Politics Balla
 
Indian rowers qualify for Asiad final
Incheon, Sep 20 (IANS) The Indian rowing teams of Dung Dung Sanjukta-Pratap Tarunikha and Roopendra Singh-Manjeet Singh qualified for the final rounds of the women's pair and lightweight men's double sculls,...
Read more on Sport Balla
 
Pakistan facing over 6,000 MW power shortfall
Islamabad, Sep 20 (IANS) Pakistan is facing an electricity shortfall of over 6,000 MW, with many parts of Punjab province witnessing outages of 20 hours a day. Un-announced load shedding in small and rural cities of...
Read more on Business Balla
 
New Zealand opposition leader concedes defeat in elections
Wellington, Sep 20 (IANS) David Cunliffe, leader of New Zealand's main opposition Labour Party Saturday, conceded defeat in the general election. Cunliffe said in a televised address to party faithful that he had...
Read more on Politics Balla
 
Xi's Asia trip new chapter for China's diplomacy: Minister
Beijing, Sep 20 (IANS) Chinese President Xi Jinping's state visits to India, Sri Lanka, the Maldives and Tajikistan opened a new chapter for China's neighbourhood diplomacy, Chinese Foreign Minister Wang Yi said at...
Read more on Politics Balla