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Alibaba to Invest in U.S. Startups as Part of Expansion Plan

Bloomberg business news

Alibaba Aims for 50% Revenue Outside China: Jack Ma

Alibaba Group Holding Ltd. will invest in startups in the U.S. and help bring them to China as part of its expansion plan, said Jack Ma, chairman of the e-commerce platform.

“I want our team to invest in high-technology startups in the states and help them to grow,” he said in an interview on Bloomberg TV on Wednesday in Beijing. “Not only with the money but by helping them to come to China one day. This is a huge market.”