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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: 3, Funny) by fritsd on Sunday October 16 2016, @06:34PM

    by fritsd (4586) on Sunday October 16 2016, @06:34PM (#414916) Journal

    To reflect the new business' goals of quality and pungency, the company's name and logotype shall be changed to: "Thousand-year-old egg" [wikipedia.org].

    ;-)

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  • (Score: 0) by Anonymous Coward on Monday October 17 2016, @03:38PM

    by Anonymous Coward on Monday October 17 2016, @03:38PM (#415224)

    Egg foo "young"?