BAIDU, ALIBABA.COM SAID TO TAKE STAKE IN SINA MICROBLOG

AsiaInfo Services
01-11-2011
Baidu, Alibaba.com Said to Take Stake in SINA Microblog

BEIJING, Jan 11, 2011 (SinoCast Daily Business Beat via COMTEX) -- Baidu Inc. (Nasdaq: BIDU) and Alibaba.com Ltd. (SEHK: 1688) will take stake in microblog of SINA Corporation (Nasdaq: SINA) and the investment involves USD 100 million, according to a person in the know, saying that detailed information will be announced within two weeks.

By far, Baidu has declined to make comments on the story, which was denied by Alibaba.com. SINA says it has not been notified of the news. However, the source reveals that talks have been held for three to four months.

Meanwhile, reporters find out that SINA will suspend its cooperation with Google Inc. (Nasdaq: GOOG) in the search field and will use the search engine provided by Baidu, which is regarded as a signal for the cooperation between SINA and Baidu.

Actually, earlier, Alibaba.com has started cooperation with SINA. PHPWIND under the aegis of the leading e-commerce company announced on September 9, 2010 the interconnection with microblog of SINA.

Source: www.sina.com.cn (January 11, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Internet Search Engines
SinoCast China Business Daily news
stake
microblog
cooperation
search
e-commerce


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