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.
http://dealbook.nytimes.com/2013/05/06/chinas-changing-internet-landscape/

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.