When a company finally gets its products on to large e-commerce platforms then it is certainly a significant development. Hence, it was no surprise that the CDB Life Sciences (OTCMKTS:CBDL) stock soared by as much as 17% on Wednesday.
The company, which primarily works through its fully owned subsidiary company LBC Bioscience Inc, announced yesterday that it was going to launch more than 40 products on the Alibaba Platform. That is a major development for the company considering the fact that Alibaba operates one of the biggest e-commerce platforms in the world and the products are going to be available to hundreds of thousands of customers.
It should be note that one product is already available on the Alibaba platform. Lisa Nelson, who is the Chief Executive Officer and President of the company, spoke about the development as well. She stated that it was only the beginning since the company was looking to grow rapidly.
She went on to state that CBD Life Sciences is looking to generate multiple sources of revenues and the listing of products on Alibaba on such initiative. In addition to that, Nelson also said that the company had already made a ‘phenomenal start’ on Amazon, the other giant e-commerce platform.