Office Depot surged 11% Monday morning after the company announced a strategic collaboration with Alibaba, China's biggest e-commerce site.
The collaboration will leverage Office Depot 's relationships with more than 10 million US business customers and Alibaba's global network of over 150,000 suppliers.
Their goal is to empower US small- and medium-sized businesses to grow by tapping into the $23.9 trillion global business-to-business e-commerce marketplace.Office Depot shares surged 11% Monday morning to $3.95 apiece after the company announced a strategic collaboration with Alibaba, China's biggest e-commerce site.
The collaboration will leverage Office Depot's relationships with more than 10 million US business customers and Alibaba's global network of over 150,000 suppliers. Their goal is to empower US small- and medium-sized businesses to grow by tapping into the global business-to-business e-commerce marketplace, which was most recently valued at $23.
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