San Francisco: Yahoo's email service in China will close this summer as part of an arrangement worked out with its partner in that country, Alibaba Group.
The service is scheduled to close August 19. Yahoo is recommending users of its free email service in China transfer their accounts to another provider such as Aliyun, an email alternative offered by Alibaba.
Yahoo Inc., based in Sunnyvale, California, has been phasing out of China since 2005 when it turned its website, email and other services over to Alibaba. As part of that deal, Yahoo paid $1 billion for a 40 per cent stake in Alibaba, one of China's biggest Internet companies.
It has proven to be an astute investment. Yahoo reaped a $7.6 billion windfall by selling half its stake back to Alibaba last year. Yahoo's remaining stake in Alibaba is now worth even more - about $14 billion by one analyst's estimate....
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10:04 AM, Apr 23, 2013
Chinese e-commerce giant Alibaba Group says its executive vice president has been named to succeed founder Jack Ma as chief executive. ...
01:03 PM, Mar 11, 2013
Actor Thilakan, who passed away on September 24, might not have acted in too many Tamil films, but considering the impact he had on Tamil audiences, it's going to be quite a while before memories of the veteran actor will fade. Director Sundar C, who brought the thespian back to Tamil screens in his film 'Mettukudi' (1996), says it was nobody else but Thilakan who he had in mind while...
05:04 PM, Sep 25, 2012
New Delhi: Google has stopped Acer from using Aliyun operating system developed by Alibaba, a Chinese search giant. According to Google, Acer is bound by the open handset alliance agreement. While Google says that it has no problems with anyone using Android source code and modifying it, the company only wants that the modified code be compatible with the Android ecosystem. According to Andy Rubin, Google's senior vice president of...
11:54 AM, Sep 18, 2012
Shanghai: A planned launch of a smartphone between Acer Inc and a unit of Alibaba Group, China's biggest e-commerce firm, was cancelled on Thursday due to what Alibaba said was pressure from Google Inc on the Taiwanese group. Acer and Alibaba's cloud computing unit had planned to launch the Acer CloudMobile A800 smartphone, using Alibaba's mobile operating system, Aliyun, in Shanghai on Thursday afternoon. But when journalists showed up for...
11:03 AM, Sep 16, 2012
Hong Kong: Yahoo Inc. has agreed to sell half of its 40 per cent stake in Chinese e-commerce group Alibaba for about $7.1 billion, securing a financial lifeline for the struggling US Internet company. The deal, announced Sunday in the US, will see Alibaba Group buying back the stake from Yahoo Inc. for $6.3 billion cash and up to $800 million of Alibaba preference shares. The announcement caps at least...
10:10 AM, May 21, 2012
San Francisco: Yahoo Inc could be weeks away from selling 15 to 25 per cent of Alibaba Group's stock back to China's largest e-commerce company, in a deal designed to eliminate complexities that had scuttled the parties' previous negotiations, a person familiar with the matter said. The two companies have been in talks for a month, the person said, but cautioned that there is no guarantee a deal will be...
11:20 AM, May 05, 2012
San Francisco: Yahoo Inc reported an uptick in revenue that marked its first quarterly sales growth in three years, as new Chief Executive Scott Thompson outlined his plan to revamp the struggling Web company. Citing moves to shut down dozens of underperforming online properties, while making online commerce and mobile products a bigger part of Yahoo's business, Thompson described "the first steps" to regain market share from online rivals and...
08:25 AM, Apr 18, 2012
Shanghai: It is a marriage made in heaven for shopping addicts. Social shopping, the merger of social networking and e-commerce which has hooked millions of users in the United States, has now captured the attention of China's Internet giant. Alibaba Group's social shopping platform Fa Xian (faxian.etao.com), launched on a testing basis four weeks ago, is already luring 60,000 viewers a day. "Over the long run, social commerce in China...
12:44 PM, Mar 30, 2012
San Francisco: Talks between Yahoo Inc and China's Alibaba Group over the US Internet giant's Asian assets have hit an impasse, throwing their plans for a $17 billion tax-free asset swap into question, according to sources briefed on the situation. The snag in negotiations came on the same day that activist investor Daniel Loeb, of hedge fund ThirdPoint, sought to install his own slate of directors on Yahoo's board, further...
11:36 AM, Feb 15, 2012
Kolkata: This Valentine's Day India has emerged the second largest supplier of fresh cut flowers in the world, a study by e-commerce portal Alibaba.com said. With 18 per cent of the total buyer enquiries going to Indian SMEs (small and medium enterprises), India features as the second largest seller of flowers after Thailand, according to site analytics data from Alibaba.com. Based on the inquiries received by Indian suppliers on the...
03:14 PM, Feb 14, 2012
Shanghai: If anyone can pull off the labyrinthine deal between Alibaba Group and Yahoo Inc, it is Jack Ma, who founded the e-commerce group and within a decade unlocked China's huge online shopping potential. The former tour guide and English teacher, who is now worth around $1.6 billion according to Forbes and has dubbed himself 'China's Forrest Gump', built his e-commerce empire from scratch and has steered it through numerous...
03:20 PM, Feb 10, 2012
Washington: Alibaba Group has hired a Washington lobbying firm in a sign that the Chinese e-commerce company would be willing to make a bid for all of Yahoo Inc in the event that talks to unwind their Asian partnership fail. Japan's Softbank Corp, which owns a 30 per cent stake in Alibaba and is a partner in Yahoo Japan, is also listed as an Alibaba affiliate in the disclosure by...
01:42 PM, Dec 29, 2011
Bangalore: China's Alibaba Group Holding Ltd has talked with Temasek Holdings Pte about providing financing to buy the 40 per cent stake in itself held by Yahoo Inc, Bloomberg said, citing people familiar with the matter. Singapore's Temasek, a state-owned investment company, may help fund an offer in return for a bigger share of privately-owned Alibaba Group, the agency said. However, Temasek is not interested in owning Yahoo, one person...
10:00 AM, Oct 10, 2011
California: Alibaba founder and CEO Jack Ma is keen on buying Yahoo Inc if the opportunity presents itself and has held discussions with other potential buyers about options. Asked whether Alibaba might be keen on picking up the ailing Internet giant, Ma told the audience during a speech at Stanford University that he would be "very interested in Yahoo." The former English school teacher later added that, were he to...
08:26 AM, Oct 01, 2011
Shanghai: Mobile operating systems developed by Asia's top technology firms will at best only chip away market share from dominant leaders Google's Android and Apple's iOS. And such a scenario would only be possible if these companies, such as China's Baidu Inc and Alibaba Group are able to court enough application developers, analysts said. "The challenge for Baidu, Alibaba, other firms looking to deploy their own mobile operating systems is...
10:41 AM, Sep 27, 2011
Hangzhou: Alibaba Cloud Computing, a unit of Alibaba Group, will release an English version of its mobile operating system this month and launch its tablet in the next two months, a top company executive said on Friday. Wang Jian, Alibaba Group's chief architect and president of Alibaba Cloud Computing, told reporters the firm was in talks with global hardware vendors on partnerships regarding its mobile OS but declined to give...
04:35 PM, Sep 09, 2011
Beijing: A major Chinese online commerce site has banned sales of software used to bypass Internet censorship amid Beijing's efforts to block the development of a Middle East-style protest movement. But Taobao.com, part of e-commerce giant Alibaba Group, said it took the action on its own and received no official order. A notice on Taobao.com said virtual private networks and Internet protocol proxies were being used to illegally visit foreign...
04:28 PM, Aug 23, 2011
New York: Yahoo Inc got short-changed - that's the view of analysts picking apart the complex deal it announced on Friday with Alibaba Group and SoftBank Corp over Chinese e-payments unit Alipay. The trio struck an agreement after months of wrangling over the lucrative asset, under which Alibaba gets up to $6 billion if the mobile payments firm goes public or gets sold. But their solution bothered investors and reinforced...
01:15 PM, Jul 30, 2011
Beijing: Alibaba Group launched its self-developed mobile operating system and a smartphone on Thursday in a bid to capture a slice of China's rapidly growing mobile Internet market. The smartphone, K-Touch Cloud Smartphone, will be launched in July and will use Alibaba's Cloud operating system, it said in a statement. Alibaba Group, which is 60 per cent owned by Yahoo Inc, operates China's largest B2B online marketplace, Alibaba.com and China's...
12:25 PM, Jul 28, 2011
