BABA(US:BABA) 3 6 Ke·2025-05-13 09:23Core Insights - Kaola Haigou has completely disappeared ahead of the 618 shopping festival, with its app removed from stores and its website inaccessible [1][8] - The platform, once a leader in the cross-border e-commerce sector, has become a "discarded child" of Alibaba after its acquisition [8] Group 1: Company History and Acquisition - Kaola Haigou, originally known as NetEase Kaola, was acquired by Alibaba for $2 billion (approximately 14 billion RMB) in 2019, which significantly increased Alibaba's market share in cross-border e-commerce to over 50% [5][10] - Following the acquisition, Kaola underwent deep restructuring, losing its independent platform status and becoming an auxiliary role within the Tmall International ecosystem [6][7] Group 2: Market Position and Performance - At its peak in 2019, Kaola held a market share of 27.7%, leading the cross-border e-commerce industry [9] - However, by 2021, its market share had declined to 22.4%, and it continued to fall behind Tmall International [27] Group 3: Strategic Integration and Challenges - The integration process involved significant personnel changes, with a drastic reduction in the business team from over 400 to less than 20 by 2022 [21][19] - Kaola's resources, including its supply chain and logistics capabilities, were gradually absorbed into Tmall International, diminishing its independent operational capacity [26][27] Group 4: Broader Implications of Alibaba's Acquisition Strategy - Alibaba's acquisition strategy often leads to the loss of independent growth potential for acquired companies, as seen with other brands like Youku and Xiami Music [28][30] - The shift towards a platform model in Tmall International has made self-operated models like Kaola's less viable, reflecting a broader trend in Alibaba's business strategy [32][33]