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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: 1, Interesting) by Anonymous Coward on Sunday October 16 2016, @09:08PM

    by Anonymous Coward on Sunday October 16 2016, @09:08PM (#414952)

    Payments sometimes have to go via verified by visa and their implementers cardinal commerce or whatever. I guess they are not as big as Amazon to eat the fraud.

    I like shopping at Newegg because it is not Amazon, and it does not charge sales tax.

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  • (Score: 1, Informative) by Anonymous Coward on Sunday October 16 2016, @09:35PM

    by Anonymous Coward on Sunday October 16 2016, @09:35PM (#414959)

    Newegg does charge sales tax if you live in one their states like California or Tennessee.