Wix's (WIX) shares gained on Wednesday after it announced a partnership to offer its website-building and maintenance tools to merchants on the Alibaba (BABA) e-commerce platform. In turn, Wix customers and site operators will get an easier option to sell to global customers via Alibaba.com.
Collectively, these platforms will facilitate seamless global trade across over 200 countries and regions, according to a joint statement.
Wix shares rose 2.2%, while the U.S.-listed shares of Alibaba were down nearly 3%. The stocks have declined 23.3% and gained 31.6% year-to-date, respectively.
On Stocktwits, the retail sentiment was 'bearish' for Wix and 'extremely bullish' for BABA.
According to the deal, Wix merchants can become Global Gold Suppliers (GGS) on Alibaba.com by downloading the Alibaba.com Seller App through the Wix Marketplace.
Meanwhile, Alibaba has expanded its Single Sign-On (SSO) integration, allowing merchants to access the Wix platform seamlessly.
The partnership rollout will occur in phases to offer a robust roadmap of forthcoming enhancements, the companies said.
Anticipated future features include AI-powered product discovery, automated onboarding processes, and intelligent product-matching tools, which are expected to accelerate global commerce, particularly benefiting small and medium-sized enterprises.
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