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Newegg Now Owned by Chinese Company

posted by martyb on Sunday October 16 2016, @04:12PM   Printer-friendly
from the putting-all-your-neweggs-in-one-basket dept.

MrPlow writes:

Submitted via IRC for TheMightyBuzzard

The Wall Street Journal's earlier report about an expected record-setting 2016 in regards to chinese investment in the United States was right. Newegg Inc., one of the most popular online tech-related retailers, is now reportedly owned by chinese company Hangzhao Liaison Interactive Information Tech...

The Wall Street Journal's earlier report about an expected record-setting 2016 in regards to chinese investment in the United States was right. Newegg Inc., one of the most popular online tech-related retailers, is now reportedly owned by chinese company Hangzhao Liaison Interactive Information Technology Co., Ltd. (Liaison Interactive).

After September's reports of a significant investment from the Chinese company on Newegg, which would allow the California-based company to "accelerate the pursuit of the company's strategic initiatives" and into high-growth markets such as eSports, VR (Virtual Reality) and AR (Augmented Reality), it now appears that the investment was much more than a simple capital infusion: it was a bid towards controlling an effective majority in the American company's shares.

Source: https://www.techpowerup.com/226777/newegg-now-owned-by-chinese-company

Original Submission

 
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  • (Score: 2, Redundant) by Kymation on Sunday October 16 2016, @05:00PM

    by Kymation (1047) Subscriber Badge on Sunday October 16 2016, @05:00PM (#414898)

    How much of what Newegg sells now is made in China?

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  • (Score: 2) by fnj on Sunday October 16 2016, @06:53PM

    by fnj (1654) on Sunday October 16 2016, @06:53PM (#414919)

    How much of what Newegg sells now is made in China?

    So close to 100% that the difference is an insignificant rounding error.

  • (Score: 2) by richtopia on Sunday October 16 2016, @06:54PM

    by richtopia (3160) on Sunday October 16 2016, @06:54PM (#414920) Homepage Journal

    The made is China stuff is the only reason I go to NewEgg anymore. It used to be a really good source for reviews, but with Amazon Prime I have no reason to pay for shipping anymore. NewEgg does have some unique fresh off the boat products though, and they are a little more reliable than random eBay sellers.

    Honestly, if NewEgg could shape up to compete against AliExpress with faster turn around there may be an opportunity there.