Nucor earnings beat by $0.08, revenue fell short of estimates
Investing.com -- Wix.com Ltd (NASDAQ:WIX) and Alibaba (NYSE:BABA).com announced a strategic partnership to help small and medium-sized enterprises expand their global reach.
The collaboration will allow Wix merchants to grow their global wholesale capabilities through Alibaba.com, while Alibaba.com merchants can create direct-to-consumer and B2B storefronts using Wix’s commerce infrastructure. Together, these platforms will enable trade across more than 200 countries and regions.
The partnership focuses on three key initiatives. First, Wix merchants can become Global Gold Suppliers on Alibaba.com by downloading the Alibaba.com Seller App from the Wix Marketplace, with automated product and order synchronization. Second, Wix merchants gain access to a curated sourcing marketplace powered by Alibaba.com. Third, Alibaba.com sellers can build branded storefronts using Wix’s AI, design, marketing, and eCommerce tools.
"At Alibaba.com, we are committed to creating accessible global trade opportunities for businesses of all sizes," said Kuo Zhang, President of Alibaba.com. "Our partnership with Wix simplifies the complexities of international trade, offering small businesses streamlined solutions for sourcing, selling, and expanding their global reach."
Nir Zohar, President of Wix, stated: "At Wix, we’re focused on giving every business, from solo entrepreneurs to established brands, the tools to grow and scale globally. Our collaboration with Alibaba.com takes that a step further. It opens powerful new opportunities for our users to tap into international wholesale markets, while also giving Alibaba.com merchants the ability to create stronger, more direct connections with their customers."
The partnership will roll out in phases, with plans for future enhancements including AI-powered product discovery, automated onboarding, and intelligent product-matching tools.
Following the announcement, Alibaba ADRs fell 2%, while Wix stock rose 1.3%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.