ShopRunner Raises $206 Million, Led By Alibaba
Alibaba Group has led a $206 million investment in ShopRunner, an Amazon.com rival. This is Alibaba’s largest investment move in the U.S. However, Alibaba is planning to go public in the U.S. sometime in the near future.
ShopRunner offers unlimited two-day shipping from retailers including Toys “R” Us and RadioShack for a $79 annual fee. American Express also has a small stake in ShopRunner.
eBay sold their 30% holding in ShopRunner for a profit as part of the deal. Based on this funding round, ShopRunner is now value at around $600 million. This completes a funding round where Alibaba previously put in around $70 million.