Yahoo China dealt blow

Yahoo China dealt blow - For ECON 0602 Reading Only AUGUST...

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For ECON 0602 Reading Only AUGUST 24, 2009 , WSJ Yahoo China Dealt Blow Chinese Parent Alibaba Retools Site, Drops Classifieds By LORETTA CHAO BEIJING -- Alibaba Group's restructuring of its China Yahoo business, which strips out a classified listings operation added to the site last year, marks yet another setback for China Yahoo since its high-profile tie-up with the Chinese e-commerce giant four years ago. Alibaba said Friday it would separate Koubei.com, a classified-listings Web site, from China Yahoo and inject Koubei into its rapidly expanding retail Web site, Taobao.com. The Koubei listings service was merged with China Yahoo in June 2008, one of several moves to revamp the site since Alibaba took over Yahoo Inc.'s China operations. Yahoo gave Alibaba control of China Yahoo, also known as Yahoo China, as part of a 2005 deal in which Yahoo paid $1 billion for a 39% stake in Alibaba Group, making it the Chinese company's biggest single shareholder. But Carol Bartz, who took over as Yahoo chief executive in January, told Alibaba executives in the spring that she hasn't been pleased with how Alibaba has handled Yahoo's brand in China, according to people familiar with the situation. A Yahoo spokesperson wouldn't comment on the criticism. Alibaba also declined to comment.
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This note was uploaded on 09/06/2010 for the course ECON ECON0602 taught by Professor Qiu during the Fall '09 term at HKU.

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Yahoo China dealt blow - For ECON 0602 Reading Only AUGUST...

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