FIRST AIRED: June 23, 2015

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00:00:00
nnnnn alibaba is selling its u. s. shopping site eleven main dot com just one year after its launch a sign that the e. commerce giant is having a hard time replicating it success in the u. s. eleven main and invite only retail website featuring items from clothes to gadgets and crafts was ali baba's first attempt to compete in the u. s. market with hopes of rivaling the likes of amazon and etsy but in a statement released tuesday alibaba announced it will sell the subsidiary to u. s. online shopping site open sky alibaba will hold a thirty seven point six percent stake in the newly combined entity even though alibaba is parting ways with eleven main it has been active in investing in u. s. tech companies including snapchat