China millions back Conshy's Kynetic online retail: report

Alibaba, China's version of eBay, has been discussing a $70 million investment in Michael Rubin's Conshohocken-based ShopRunner Inc., which helps retailers offer online sales services to compete with, the Wall St Journal reported here.

Alibaba, which is preparing to go public at a multibillion-dollar valuation, joined Singapore's Temasek national fund in raising $170 million for Kynetic's Fanatics pro and college sports gear marketing arm, which counts Comcast's NBC and rival networks among its partners, back in June, as I reported here.

Rubin sold his earlier publicly-traded online-sales company, GSI Commerce, to eBay for $2.5 billion in 2011, and made eBay his partner in ShopRunner, Fanatics and other businesses not included in the deal.