Alibaba to Invest RMB 300 Mln in Yahoo Koubei

Sina Tech, 12/10/08

E-commerce group Alibaba announced today that it 2009 will invest RMB 300 mln to develop its local search engine Yahoo Koubei, and will soon begin organizational and service-related adjustments to accommodate this move. According to Shen Jianming, the recently resigned vice president of China Yahoo, the company will shrink other services in order to focus on the development of Yahoo Koubei.

Alibaba stated that it hopes Yahoo Koubei can establish large local services communities in each of Beijing, Shanghai and Guangzhou within the span of one year. Services on the site will include food, real estate, community services, leisure and culture, health care services, and education.

Keywords: strategy 2009 Alibaba China Yahoo Internet Koubei local search Shen Jianming online search

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