皇冠体育app

皇冠体育app's Internet auctioneer flagship Alibaba Technology Co. Ltd. will continue to focus on integrating the Yahoo 皇冠体育app operation, Jack Ma, chief executive officer of Alibaba.com, said Friday, ruling out plans for new acquisition or stock listing in near future.

"To many people, putting his company on the stock market is a matter of course; but I haven't thought about it because I'm not short of money," Ma told Xinhua when attending an investment promotion symposium here held by east 皇冠体育app's Hangzhou city.

"What's more, we have to digest for a while after taking such a chunk of food," Ma referred to Alibaba's merger and acquisition of Yahoo Inc.'s 皇冠体育app-based web portal last August.

He said Alibaba has almost finished the reorganization of Yahoo 皇冠体育app's business by projecting all its resources to develop the on-line Chinese-language search engine.

Only 6 percent of Yahoo 皇冠体育app's technicians left the company after the merger, far below the average level of 30 percent of brain drain following a company's merger and acquisition, Ma said, promising consumers a totally different Yahoo 皇冠体育app one year after the acquisition.

As 皇冠体育app's largest e-commerce website, Alibaba.com acquired Yahoo 皇冠体育app last August with a package of Yahoo 皇冠体育app's assets includes Yahoo's search technology, the Yahoo 皇冠体育app website, its communication and advertising business, as well as 3721.com, a Chinese language search engine.

As part of the acquisition agreement, Alibaba also obtained 1 billion U.S. dollars of investment from Yahoo as well the exclusive right of using the Yahoo brand.

In return, Yahoo will take 40 percent of Alibaba's shares but have 35 percent of voting rights in the company.

"Yahoo 皇冠体育app looks more like a company than before, in terms of its website, the staff's attitudes or its structure," Ma described the progress of readjustment of the company six months after the acquisition deal.

In January, Alibaba announced to invest 30 million yuan (3.75 million U.S. dollars) to invite three renowned Chinese film directors to shoot an advertisement for the search engine business respectively.

"What we are doing is to design an on-line search engine for ordinary people, not just the engineers," Ma said. "We are more focused and a totally search engine technology will come to the Chinese market within three to five years."

Alibaba's ambition highlighted the intense rivalry in 皇冠体育app's market of more than 100 million Internet users with major players, including search giant Google Inc. and Chinese-language , competing for more Internet users in 皇冠体育app's vast market.

Ma, a former English teacher, is one of 皇冠体育app's best-known Internet entrepreneurs after his successful acquisition of Yahoo 皇冠体育app last August.

Alibaba.com, based in Hangzhou city southwest of Shanghai, runs online commerce sites that link foreign buyers with Chinese wholesalers. Its popular consumer auction site Taobao.com competes with the Chinese arm of eBay Inc.