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| VIEW EVENT INFORMATION: Alibaba |
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Alibaba Takes $1.22B Stake In Youku |
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About the organization Alibaba:
Type: Business
Sub-Types: Website, Advertising Agent, Retailing Agent, Computer Software, Search Engine, E-Commerce |
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Notable Organizations: Alibaba, Techcrunch, Youku
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| E-commerce giant Alibaba, part of Yahoo, is buying a $1.22 billion stake in Youku Tudou, the main online video provider in China, akin to YouTube. The move looks like a competitive bulwark against its main rival, Tencent.
Alibaba and Yunfeng Capital are paying $30.50 per American Depositary Receipt of Youku, or a 26.3% premium over the last traded price, Youku Tudou said in a statement. The two companies will jointly own a 18.5 percent stake in Youku. Alibaba CEO Jonathan Lu will join Tudou’s board. |
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