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YAHOO IS IN TALKS TO BUY STAKE IN CHINESE WEB FIRM
Mary Kissel, Jonathan Cheng, Kevin J. Delaney, The Wall Street Journal, 08/09/05
Yahoo Inc. is in talks to acquire a stake in Chinese electronic-commerce outfit Alibaba.com Corp., a person familiar with the matter said, a move that would expand the U.S. Internet company's exposure to the fast-expanding China market and heighten its competition with eBay Inc.
The discussions could still founder, and Alibaba is talking to other companies about a possible investment, the person said. Any deal with Yahoo would represent the latest chapter in [Yahoo’s] long-standing, and at times frustrated, effort to gain a leading position in the Chinese market.
A spokeswoman for Yahoo and an Alibaba spokesman declined to comment. The existence of the talks was reported Sunday on Forbes.com, which said Yahoo was negotiating for about a 35% stake valued at nearly $1 billion, citing people familiar with the matter.
Alibaba, a closely held company, operates business-to-business Web sites to help small- and midsize merchants connect with wholesalers, manufacturers and other sellers in China. The company generates revenue by charging its business-to-business Web site users annual subscriptions to trade on its sites. Alibaba has more than 15 million registered users in 200 countries and it estimates that $4 billion in trade was transacted last year on its Web sites. The company said it had revenue of $46 million last year.
Any move by Yahoo would come as U.S. Internet companies are preparing to take big risks to retain or expand their Chinese footholds. Google Inc. last month said it planned to open a product research and development center in China. EBay appears to be steadily losing market share to Alibaba's TaoBao, and has pledged to pour $100 million into the market.
Yahoo entered China in 1999, but local portals gained market share. Last year it acquired 3721 Network Software Co., which makes software for Chinese-language Internet searches.
Mary Kissel, Jonathan Cheng, Kevin J. Delaney, The Wall Street Journal, 08/09/05
Yahoo Inc. is in talks to acquire a stake in Chinese electronic-commerce outfit Alibaba.com Corp., a person familiar with the matter said, a move that would expand the U.S. Internet company's exposure to the fast-expanding China market and heighten its competition with eBay Inc.
The discussions could still founder, and Alibaba is talking to other companies about a possible investment, the person said. Any deal with Yahoo would represent the latest chapter in [Yahoo’s] long-standing, and at times frustrated, effort to gain a leading position in the Chinese market.
A spokeswoman for Yahoo and an Alibaba spokesman declined to comment. The existence of the talks was reported Sunday on Forbes.com, which said Yahoo was negotiating for about a 35% stake valued at nearly $1 billion, citing people familiar with the matter.
Alibaba, a closely held company, operates business-to-business Web sites to help small- and midsize merchants connect with wholesalers, manufacturers and other sellers in China. The company generates revenue by charging its business-to-business Web site users annual subscriptions to trade on its sites. Alibaba has more than 15 million registered users in 200 countries and it estimates that $4 billion in trade was transacted last year on its Web sites. The company said it had revenue of $46 million last year.
Any move by Yahoo would come as U.S. Internet companies are preparing to take big risks to retain or expand their Chinese footholds. Google Inc. last month said it planned to open a product research and development center in China. EBay appears to be steadily losing market share to Alibaba's TaoBao, and has pledged to pour $100 million into the market.
Yahoo entered China in 1999, but local portals gained market share. Last year it acquired 3721 Network Software Co., which makes software for Chinese-language Internet searches.
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