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Alibaba seeks head for Russian office

0 8 August 2014

Chinese online retailer Alibaba is planning to open an office in Russia, and to invest part of the money raised from its public offering in the Russian market. The company has yet to make an official announcement, but sources maintain that the plans will be confirmed in mid-late August, and that the office will open after the IPO in September.

At the moment the company, one of whose shareholders is Yuri Milner of DST Global, is looking for someone to lead its Russian office. They would be expected to start by early 2015. Alibaba already invited Russian experts to join its team in 2013, to assist with analysis and planning its strategy for the Russian e-commerce market.

In July Alibaba was valued at $130 billion. It is expected to go public in September, which may well be the largest stock offering in history. 

Source: RusBase.vc

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