Alibaba has been on quite a shopping spree. In the past year the Chinese ecommerce company has spent more than $2bn taking a stake in, or buying outright, more than 10 smaller companies. These include map makers, social media sites, web browsers, logistics companies and a US site inspired by Parisian flea markets.
This dealmaking madness has a method.
Alibaba is rushing to shore up areas of weakness ahead of a hotly anticipated initial public offering this year, which could value its equity at more than at $100bn. Revenue growth has been slowing because of competition and the fact that the company already controls 80 per cent of ecommerce in China.
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