It seems the long-running war between Chinese wholesale marketplace Alibaba and eBay may finally be over: eBay’s CEO John Donahoe has said “We’ve, in essence, exited the domestic market.” Instead of aiming to compete in China, eBay will “look for opportunities to partner or joint venture or work together with Chinese companies”. He went on, “Alibaba dominates the Chinese domestic market. We are the leading cross-border global e-commerce and payments network. I don’t view Alibaba as a competitor. I view them as a colleague and a potential partner.”
JD appeared at Alibaba’s annual conference on Friday. Alibaba’s founder Jack Ma told attendees that the two companies “have same dream, same mission and same goal to help entrepreneurs” and that eBay “is a company we should learn from”. Ma has famously criticised US companies for thinking they can buy their way into the Chinese market, saying of eBay under Meg Whitman, “We did not beat them in the US… yet”.