Yahoo! Surfs Alibaba

World Brief

Yahoo! Will spend $1 billion in cash for a 40% chunk of China’s Internet auctioneer Alibaba.com, a serious statement of intent in the world’s second-biggest and fastest-growing online market.

The deal is the biggest outlay to date for an Internet company in China and it will involve Yahoo! incorporating its entire Chinese search business into Alibaba.

Yahoo! reckons China will be the world’s biggest Internet market within five years. However, it remains an undeveloped market as incomes are still low — the average income, even in the rich cities, is still less than $1,000 a year.

Clifford Coonan

More Scene

  • I Feel Pretty premiere

    ‘I Feel Pretty’ Directors Say They Were ‘Disappointed’ After Backlash From Trailer

    Yahoo! Will spend $1 billion in cash for a 40% chunk of China’s Internet auctioneer Alibaba.com, a serious statement of intent in the world’s second-biggest and fastest-growing online market. The deal is the biggest outlay to date for an Internet company in China and it will involve Yahoo! incorporating its entire Chinese search business into […]

  • Levis Coachella brunch

    Coachella 2018: The Biggest Celebrity Appearances and Surprise Performances of Weekend 1

    Yahoo! Will spend $1 billion in cash for a 40% chunk of China’s Internet auctioneer Alibaba.com, a serious statement of intent in the world’s second-biggest and fastest-growing online market. The deal is the biggest outlay to date for an Internet company in China and it will involve Yahoo! incorporating its entire Chinese search business into […]

  • Coachella Music and Arts Festival

    The Politics Behind Beyonce’s 2018 Coachella Performance

    Yahoo! Will spend $1 billion in cash for a 40% chunk of China’s Internet auctioneer Alibaba.com, a serious statement of intent in the world’s second-biggest and fastest-growing online market. The deal is the biggest outlay to date for an Internet company in China and it will involve Yahoo! incorporating its entire Chinese search business into […]

  • Salma HayekUnicef Ball, Show, Los Angeles,

    Salma Hayek Pinault Urges Attendees to Support Global Children at UNICEF Ball

    Yahoo! Will spend $1 billion in cash for a 40% chunk of China’s Internet auctioneer Alibaba.com, a serious statement of intent in the world’s second-biggest and fastest-growing online market. The deal is the biggest outlay to date for an Internet company in China and it will involve Yahoo! incorporating its entire Chinese search business into […]

  • Coachella Valley Music and Arts Festival,

    Coachella 2018: A Guide to the Hottest Parties in the Desert

    Yahoo! Will spend $1 billion in cash for a 40% chunk of China’s Internet auctioneer Alibaba.com, a serious statement of intent in the world’s second-biggest and fastest-growing online market. The deal is the biggest outlay to date for an Internet company in China and it will involve Yahoo! incorporating its entire Chinese search business into […]

More From Our Brands

Access exclusive content