Update: Mogujie would announce US$200 million funding, instead of acquisition, from a group of investors excluding Alibaba in June 2014.

Alibaba Group reportedly is near acquiring Mogujie, a Pinterest-style social shopping service for $200 million.

Mogujie was founded by former Alibaba employees and is based in the same city as the e-commerce giant. Launched in February 2011, it would become one of the two largest social shopping sites in China. It’s direct competitor is Meilishuo which but is focused only on women.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com