Word: alibaba
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...Shanghai sojourn is not business as usual to anyone who is anyone in the booming e-commerce market in China. That includes the CEO of the local company giving eBay fits there, Yun (Jack) Ma of Alibaba-Taobao. On Aug. 8, the Alibaba-eBay competition ceased being a David vs. Goliath battle. Ma announced he was selling a 40% stake in his company to Yahoo! for $1 billion...
...says he and Yang started talking seriously about a deal in May. The key to it, Ma says, is that it gives Alibaba a strong position in four growth segments: business to business, consumer sales, online payments and now, with Yahoo!, search. "When we started Taobao, even our own chief technology officer said, 'Jack, you are crazy. Don't forget eBay.' But we passed eBay in China in just two years." Whitman, for her part, could not have been surprised by Yahoo!'s entrance into China. "Given how quickly the Internet and e-commerce market is exploding in China...
...task just got more complicated: Yahoo's intention to invest $1 billion for a 40 percent stake in eBay rival Alibaba-Taobao, a company that was already making life difficult for eBay in China, means the fight for control of the world's next great e-commerce market will be ?fierce,? as Yahoo! co-founder Jerry Yang acknowledged in an interview with TIME...
...company Yahoo! is buying into, Alibaba, is already a profitable business-to-business e-commerce site. (The company is privately held - it plans to go public next year - and doesn't publicly disclose financial results.) The more direct competitor to eBay, called Taobao (?searching for treasure? in Mandarin) isn't yet profitable, but according to Yang is a ?great franchise in the making.? Both sites were started and are run by 40-year-old internet entrepreneur Jack Ma, who will remain in charge. ?This is definitely an arrangement where we think have great assets coming together, but this (deal) would...