- Alibaba and Office Depot on Monday announced a strategic collaboration.
- The collaboration will leverage Office Depot ‘s relationships with more than 10 million US business customers and Alibaba’s global network of over 150,000 suppliers.
- Their goal is to empower US small- and medium-sized businesses to grow by tapping into the $US23.9 trillion global business-to-business e-commerce marketplace.
- Watch Office Depot trade live.
Office Depot shares surged 11% Monday morning to $US3.95 apiece after the company announced a strategic collaboration with Alibaba, China’s biggest e-commerce site.
“As a trusted partner to millions of businesses, our customers tell us they want more choice in the market and need an expanded set of products and services to help their businesses grow,” Gerry Smith, CEO of Office Depot, said in the press release. “We believe our collaboration with Alibaba.com is exactly what they are asking for.”
Shares were up 52% in the past year.
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