August 11, 2005, 12:00 AM

Yahoo partners with China’s Alibaba.com

Yahoo Inc. is investing about $1 billion in cash for a 40% stake in Alibaba.com to engage in several areas of e-commerce including online payments, search and b2b and b2c e-commerce, the two companies said today.

Forming a multi-faceted e-commerce business to serve China, Yahoo Inc. is investing about $1 billion in cash for a 40% stake in Alibaba.com to engage in several areas of e-commerce including online payments, search and b2b and b2c e-commerce, the two companies said today.

The Yahoo/Alibaba partnership will include the Yahoo China e-commerce portal and advertising services, Yahoo Search Technology, the Alibaba International online marketplace, and the Taobao e-commerce site. "Together, we will create one of the largest Internet companies in China, and our combined assets will make us the only company that has a leading position in all the key sectors that are driving explosive Internet growth in China such as search, commerce and communications," said Yahoo chairman and CEO Terry Semel.

 

 

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Bart Mroz / E-Commerce

What online shoppers want

They want mobile shopping to be easy, are open to trying buying on social networks ...

FPO

Paul Martecchini / E-Commerce

How marketers can best use digital data to launch a new product

The signals consumers use as they navigate the web can help brands design, launch and ...

Advertisement