Monday, August 29, 2005

Alibaba's Ma Joins Yahoo's Yang

Alibaba could give eBay a run for their money. Their B2B site is highly evolved in the international trade community. TaoBao, their C2C play is a trading site with more than 9 million registered users and Alipay is their online payment system. Now throw in a cool $1 Billion to play with and Alibaba could win big. Note: I have some friends at Alibaba so of course I'm a little biased. ;)

Allen T. Cheng and Jonathan Thaw / Bloomberg
Saturday, August 27, 2005

It started with walks along China’s Great Wall and culminated at California’s Pebble Beach resort, where Yahoo Inc.! cofounder Jerry Yang decided to make a $1 billion bet on CEO Jack Ma.

The friendship the two formed on their Wall hikes led to Yahoo’s purchase of 40 % of Ma’s privately held Alibaba, China’s biggest electronic-commerce company and No 2 online auctioneer. The question is whether the acquisition will help Yahoo overtake EBay Inc., China’s leading online auctioneer, and win more customers in the second-biggest Internet market after US.
read more

eXTReMe Tracker