China’s Changing Internet Landscape

China was on vacation much of last week for the May 1 Worker’s Day holiday, but executives at two of China’s most important online companies were busy completing a deal that could reshape the country’s Internet.Alibaba, China’s largest e-commerce and online payments firm, announced that it had bought an 18 percent stake in Sina’s Weibo subsidiary for $586 million in a deal expected to jump-start Sina’s revenue through social commerce. Weibo, a microblogging service somewhat akin to Twitter, is one of China’s biggest social networks. Think Amazon or eBay investing in Twitter.

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