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Article: Yahoo Takes $1 Billion Stake in China's Alibaba
- Article from:
- Wireless News
- Article date:
- August 12, 2005
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Wireless News
08-12-2005
Yahoo Takes $1 Billion Stake in China's Alibaba
WIRELESS NEWS-August 12, 2005-Yahoo Takes $1 Billion Stake in China's Alibaba (C)2005 10Meters - http://www.10meters.com
Yahoo and Alibaba.com, China's largest e-commerce company, announced a definitive agreement to form a long-term strategic partnership in China.
Under the terms of the agreement, Yahoo will contribute its Yahoo China business to Alibaba.com and the two companies will work together in an exclusive partnership to grow the Yahoo brand in China. Additionally, Yahoo is investing $1 billion in cash to purchase Alibaba.com shares from the company and other shareholders. The agreement gives Yahoo an ...