Menu
12/08/2005
Yahoo forks out $1bn in Chinese e-deal
Web directory company Yahoo has forked out $1 billion for stake in Chinese e-commerce company Alibaba.com.
The outfit is China's largest e-commerce firm and the deal will give Yahoo around a 40% economic interest with a 35% voting share making it the largest single investor in Alibaba.com.
The combination will create one of the largest Internet companies in China, and place it in a leading position in the key growth sectors of business-to-business e-commerce, consumer e-commerce, online payments, communications and search.
Under various guises Alibaba has a substantial online holding among Chinese firms and, as shares in China's internet companies are increasing dramatically, the country's e-business sector is much in demand. Amazon recently paid $75 million for rival Chinese e-tailer Joyo.
Chairman and CEO of Yahoo, Terry Semel, said the investment underscored a long-term commitment to the Chinese market.
He said: "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."
The business partnership model is the first of its kind for an Internet company in China.
Chairman and CEO of Alibaba.com, Jack Ma, said that the merger of Yahoo China with Alibaba.com's business would expand services to "provide a leading search offering to China's Internet users."
Alibaba.com has around 15 million business and consumer users, which includes over 100,000 business users who currently pay between $250 and $10,000 per year for Alibaba.com's online services.
According to Alibaba.com the B-2-B e-commerce sector is one of the fastest growing market segments in China.
Growth of around 95% is anticipated from 2004 to 2007 and the consumer e-commerce segment in China also has high growth potential estimated to become a $2.5 billion market by 2007.
(SP/KMcA)
The outfit is China's largest e-commerce firm and the deal will give Yahoo around a 40% economic interest with a 35% voting share making it the largest single investor in Alibaba.com.
The combination will create one of the largest Internet companies in China, and place it in a leading position in the key growth sectors of business-to-business e-commerce, consumer e-commerce, online payments, communications and search.
Under various guises Alibaba has a substantial online holding among Chinese firms and, as shares in China's internet companies are increasing dramatically, the country's e-business sector is much in demand. Amazon recently paid $75 million for rival Chinese e-tailer Joyo.
Chairman and CEO of Yahoo, Terry Semel, said the investment underscored a long-term commitment to the Chinese market.
He said: "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."
The business partnership model is the first of its kind for an Internet company in China.
Chairman and CEO of Alibaba.com, Jack Ma, said that the merger of Yahoo China with Alibaba.com's business would expand services to "provide a leading search offering to China's Internet users."
Alibaba.com has around 15 million business and consumer users, which includes over 100,000 business users who currently pay between $250 and $10,000 per year for Alibaba.com's online services.
According to Alibaba.com the B-2-B e-commerce sector is one of the fastest growing market segments in China.
Growth of around 95% is anticipated from 2004 to 2007 and the consumer e-commerce segment in China also has high growth potential estimated to become a $2.5 billion market by 2007.
(SP/KMcA)
Related UK National News Stories
Click here for the latest headlines.
13 February 2004
Bird flu 'still not under control' despite culls
Although some 80 million chickens have so far been culled to fight the Asian bird flu epidemic, the spread of the virus is still not under control in several countries, the United Nations Food and Agriculture Organization (FAO) said today.
Bird flu 'still not under control' despite culls
Although some 80 million chickens have so far been culled to fight the Asian bird flu epidemic, the spread of the virus is still not under control in several countries, the United Nations Food and Agriculture Organization (FAO) said today.
03 August 2005
GB Sports Car Company to develop MG range
The Chinese firm that purchased MG Rover assets has announced that work is to commence on a range of new models at Longbridge in Birmingham. Nanjing Automobile Group and GB Sports Car Company have reached an agreement to collaborate on a range of cars that are expected to be in production by mid-2006.
GB Sports Car Company to develop MG range
The Chinese firm that purchased MG Rover assets has announced that work is to commence on a range of new models at Longbridge in Birmingham. Nanjing Automobile Group and GB Sports Car Company have reached an agreement to collaborate on a range of cars that are expected to be in production by mid-2006.
19 January 2015
Mobile Customers To Share £1m Refund
Mobile provide EE is to refund around £1m to a number of customers wrongly charged VAT between October 2012 and October 2014. It is understood that EE customers who travelled outside the EU during those dates and used internet data were affected by the charges. The company estimated it as being about 0.5% of its customers.
Mobile Customers To Share £1m Refund
Mobile provide EE is to refund around £1m to a number of customers wrongly charged VAT between October 2012 and October 2014. It is understood that EE customers who travelled outside the EU during those dates and used internet data were affected by the charges. The company estimated it as being about 0.5% of its customers.
19 June 2014
UK-China Agree £14bn Trade And Investment Deals
£14bn of trade and investment deals have been agreed between UK and Chinese firms following Chinese Premier Li Keqiang's visit to the UK. The Chinese Premier met David Cameron at this latest UK-China summit, just six months after the Prime Minister's visit to China.
UK-China Agree £14bn Trade And Investment Deals
£14bn of trade and investment deals have been agreed between UK and Chinese firms following Chinese Premier Li Keqiang's visit to the UK. The Chinese Premier met David Cameron at this latest UK-China summit, just six months after the Prime Minister's visit to China.
11 April 2012
PM Welcomes China Murder Investigation
UK Prime Minister, David Cameron, has welcomed an investigation by China into the death of British businessman, Neil Heywood, who was found dead in the country in November. The 41-year-old was found dead on November 15 in Chongqing in central China.
PM Welcomes China Murder Investigation
UK Prime Minister, David Cameron, has welcomed an investigation by China into the death of British businessman, Neil Heywood, who was found dead in the country in November. The 41-year-old was found dead on November 15 in Chongqing in central China.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
