1 Reply Latest reply on Oct 31, 2016 5:48 PM by hardcoregames™

    Newegg.com now a Chinese company

    black_zion

      Newegg Now Owned by Chinese Company | techPowerUp

      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.

       

      The deal, with a value estimated around 17.7 billion yuan (around 2.63 billion dollars; higher than some countries' GDP), will give Liaison Interactive control of 55.7% of the California-based company. As a result, Newegg thus becomes one of Liaison Interactive's subsidiaries.

       

      The deal is expected to aid Liaison Interactive in bolstering its global competitiveness, allowing for a gigantic expansion into the American market. The company praised Newegg's recognizable brand and strong consumer confidence. Liaison Interactive expects Newegg to become an important part of the company's liquidity channel through its hardware and software offers, thus complementing the China-based company's product channels. As always, in the wake of this acquisition, changes are expected in Newegg's overall structure, in either its organization, personnel, business, financial and/or management fields.

        • Re: Newegg.com now a Chinese company
          hardcoregames™

          I bought my MSI 970A-G43 from NewEgg late last year. It was delivered quite quickly even though I am in Canada. NewEgg does operate in Canada but their inventory showed my motherboard was shipped from California.

           

          rail service up the west coast is known to be efficient, lots of veggies are imported from California too