Yahoo Invests $1 Billion in Chinese E-Commerce Site

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Yahoo Invests $1 Billion in Chinese E-Commerce Site

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08-11-2005, 06:30 PM

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Yahoo Invests $1 Billion in Chinese E-Commerce Site

Yahoo has confirrmed that they're investing $1 Billion in China's, Ailbaba, an online auction site. The investment will give Yahoo a 40% stake in Alibaba. The average China city dweller spends the equivalent of only $1,000 a year, so it is little wonder Alibaba reports twice as many sales from businesses as from consumers. Currently, less than one-tenth of the Chinese population is online. "This is a great time to build brand for Yahoo," said [Yankee Group analyst Patrick] Mahoney....

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Tags: billion, chinese, ecommerce, invests, site, yahoo

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