Alibaba buys stake in Zulily

Alibaba now owns a 9 percent stake in U.S. online retailer Zulily, a move that could prove the Chinese e-commerce giant has plans to further its presence in the U.S. market. The stake, valued at more than $150 million, is one of a string of investments Alibaba has made over the past year in U.S. retail, including $15 million in luxury e-commerce site 1stdibs and $206 million in ShopRunner, which offers two-day shipping from U.S. retailers. Formed in 1999, Alibaba was little known outside of China until it went public in the United States last year, and the company is aiming to help more U.S. retailers reach consumers in China. Story