August 25, 2010 / 12:46 AM / 10 years ago

China's Alibaba makes 2nd buy to target vendors

David Wei, CEO of Alibaba.com, poses for a photograph in San Francisco, California August 24, 2010. REUTERS/Robert Galbraith

LOS ANGELES (Reuters) - China’s largest e-commerce company, Alibaba.com Ltd, made its second U.S. acquisition in as many months and its chief executive said on Tuesday he was working on more deals to fuel global growth.

The Chinese company said it has entered into an agreement to buy Auctiva, which provides listing and marketing tools to vendors on e-commerce websites like eBay holds a nearly 40 percent stake.

Reporting by Alex Dobuzinskis: additional reporting by Noel Randewich in San Francisco; Editing by Bernard Orr

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