Caixin OnlineBusiness & IndustryTop Stories Industry E-commerce Company Goes Empire Building
05.06.2013 19:06

E-commerce Company Goes Empire Building

After purchase of stake in Sina Weibo, Alibaba has bigger dreams, namely a listing and larger mobile Internet presence
By staff reporter Wang Shanshan

(Beijing) -- After six months of talks, on April 29 leading Internet portal Sina Corp. announced a partnership with the country's largest e-commerce company, Alibaba Group.

Alibaba agreed to a US$ 586 million investment in Sina Weibo, Sina's Twitter-like service. The deal is the largest equity purchase so far in China's internet industry.

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