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Article: Yahoo! and Alibaba.com Announce Completion of Strategic Partnership in China.
- Article from:
- Business Wire
- Article date:
- October 24, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SUNNYVALE, Calif. & BEIJING -- Yahoo! Inc. (Nasdaq:YHOO), a leading global Internet company, and Alibaba.com, China's largest e-commerce company, today announced the completion of their business combination in China.
"Together, Yahoo! and Alibaba have created one of the largest Internet companies in the fastest-growing Internet market," said Terry Semel, chairman and chief executive officer of Yahoo!. "Through this strategic partnership, we will combine the best of commerce, search, communications and online advertising capabilities in new ways for Chinese consumers and businesses, under the management of a strong local team."
"Today marks the official ...