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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) by nitehawk214 on Monday October 17 2016, @02:36AM

    by nitehawk214 (1304) on Monday October 17 2016, @02:36AM (#415061)

    Newegg became just another knockoff Amazon/Alibaba years ago when they started opening up their site to other sellers.

    --
    "Don't you ever miss the days when you used to be nostalgic?" -Loiosh

  • (Score: 2) by butthurt on Monday October 17 2016, @03:45AM

    by butthurt (6141) on Monday October 17 2016, @03:45AM (#415079) Journal

    You object to the lack of originality, or what?

    • (Score: 1) by nitehawk214 on Tuesday October 18 2016, @10:35PM

      by nitehawk214 (1304) on Tuesday October 18 2016, @10:35PM (#415888)

      The complete lack of customer service. That used to be the best thing about Newegg, now they are no better than the other online retailers.

      --
      "Don't you ever miss the days when you used to be nostalgic?" -Loiosh