The partnership aims to both integrate Russia`s key consumer internet and ecommerce platforms and launch a social commerce joint venture in Russia.
According to Alibaba, the idea is to create a one-stop destination for consumers to communicate, socialise, shop, and play games, all within the same online ecosystem.
Alibaba will contribute AliExpress Russia, its local ecommerce arm, to the partnership, which could enable the China-based company to reach out to a larger audience in Russia. It will also cede control of its Russian business to form the partnership.
The agreement will use Russia`s payments system known as Mir, which was developed in late 2014.
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