Silicon Valley: Off Ramp Closed for Repairs?
September 11, 2018
We learned that Alibaba (a Chinese outfit) has entered into a deal with Russian firms for online payments. Reuters reported the tie up in “Alibaba’s JV in Russia to Use Russia’s Payment System.” The system is used in Russia.
TechCrunch points out in “Alibaba Goes Big on Russia with Joint Venture Focused on Gaming, Shopping and More”:
Mail.ru, the Russia firm that offers a range of internet services including social media, email and food delivery to 100 million registered users, has teamed up with Alibaba to launch AliExpress Russia, a JV that they hope will function as a “one-stop destination” for communication, social media, shopping and games. Mail.ru backer MegaFon, a telecom firm, and the country’s sovereign wealth fund RDIF (Russian Direct Investment Fund) have also invested undisclosed amounts into the newly-formed organization.
From our vantage point, Alibaba may have taken a more direct route to Russia. Has one of the off ramps to Silicon Valley closed for repairs? Maybe the traffic flow is heading to a more interesting destination?
Stephen E Arnold, September 11, 2018
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