Alibaba Pulls Back in U.S. Amid Trump Crackdown on Chinese Investment
After a flurry of Silicon Valley dealmaking, the Chinese e-commerce giant is returning its focus to China and Southeast Asia.
This article is for subscribers only.
Alibaba Group Holding Ltd. is scaling back its presence in Silicon Valley—a sign that the Trump administration’s crackdown on Chinese investment in U.S. companies is casting a chill.
After a flurry of deal-making, the Chinese e-commerce giant’s corporate venture arm has announced only one fresh investment in the U.S. this year, leading a $26.4 million funding round in a New York and Tel Aviv data-analysis startup called SQream Technologies. And that’s a tiny deal compared with the hundreds of millions Alibaba lavished on high-profile U.S. companies such as Magic Leap, Jet.com and Snap Inc.