Make me your Homepage
left corner left corner
China Daily Website

Alibaba picks up digital content stake

Updated: 2014-04-10 07:11
By Meng Jing ( China Daily)

$1.1 billion for piece of Wasu Media part of recent buying spree

An investment firm controlled by the founders of e-commerce conglomerate Alibaba Group Holding Ltd agreed Tuesday to buy a 20 percent stake in a Chinese Internet-television company for about $6.54 billion yuan ($1.06 billion), a move that will allow Alibaba to expand into the digital-content market.

The investment in Wasu Media Holding Co was announced within a week of Alibaba founder Jack Ma's paying 3.3 billion yuan to take the control of Chinese financial software developer Hundsun Technologies Inc.

Alibaba picks up digital content stake

...
...
...