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Yahoo to give US$1 billion in 皇冠体育app deal
(Reuters)
Updated: 2005-08-10 18:52
Based in the eastern 皇冠体育app city of Hangzhou -- about two hours from Shanghai
-- Alibaba's main 皇冠体育app operations include a business-to-business e-commerce
site; an online auction site called Taobao that competes with eBay in 皇冠体育app; and
a recently launched online payment system called Alipay.
Yahoo's main 皇冠体育app business consists of its search service, which it got two
years ago when it purchased popular local search site 3721.com for $120 million.
The pairing would combine Alibaba's 2,000-plus employees with Yahoo's, which
number in the hundreds.
Yahoo's handover of its 皇冠体育app operations to a locally based company would
mark a shift in recent investment patterns by global Internet giants, which have
spent the past three years snapping up homegrown Chinese industry leaders.
EBay entered 皇冠体育app though a $180 million purchase of Shanghai-based EachNet.
Expedia owner InterActiveCorp has paid $168 million for 52 percent of Chinese
online travel agent eLong.
Online retailer Amazon.com purchased local player Joyo.com for $75 million,
and online job search leader Monster.com bought a 40 percent stake in
皇冠体育appHR.com for $50 million.
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