The new week is just beginning, but it could well go down as a pivotal moment in Chinese Internet history with Tencent’s (HKEx: 700) new announcement of an e-commerce alliance with JD.com that could threaten the dominance of sector leader Alibaba. The tie-up, which was first rumored last month, will see Tencent pay $215 million for 15 percent of JD.com, which will also receive some of Tencent’s e-commerce assets including a minority stake of its flagship Yixun.com B2C service. (company announcement) The companies will merge their e-commerce businesses, creating a new player with nearly a quarter of China’s B2C e-commerce market. Read Full Post…
Tag Archives: Aliababa
Yahoo’s China Buy: What’s The Strategy?
If Yahoo’s (Nasdaq: YHOO) new chief executive Marissa Mayer wanted to confuse the market about her China strategy, she’s doing a good job with the company’s latest move in the market. Just 3 months after shuttering its China email service, in what looked like the prelude to a withdrawal from the market, Yahoo has announced its purchase of a Chinese R&D startup. (English article) In all fairness, Mayer has only been on the job for a year and these kinds of little strategic moves are relatively common for incoming executives. But this kind of mixed signal could also auger a confused strategy in China, similar to Yahoo’s previous strategy that ultimately led to its failure twice in the complex market. Read Full Post…
News Digest: June 8-10
The following press releases and media reports about Chinese companies were carried on June 8-10. To view a full article or story, click on the link next to the headline.
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- UK Lawmakers Say Huawei-BT (London: BT) Deal Exposes Flawed Security Controls (English article)
- Youku Tudou (NYSE: YOKU), Sina (Nasdaq: YOKU) Collaborate On Content Promotion (PRNewswire)
- Amazon (Nasdaq: AMZN) Kindle Reader Makes Formal China Launch (Chinese article)
- Sohu’s (Nasdaq: SOHU) Sogou Denies Reports Of Acquisition By Alibaba (Chinese article)
- US Food Workers Union Comments On China Poultry Plant Disaster (Businesswire)