Monday, April 29, 2013

Internet in China - Alibaba increases with Weibo, a Twitter-variant - Süddeutsche.de

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29 April 2013 17:50

Western networks such as Twitter and Facebook are taboo for them: therefore use millions of Chinese Weibo. The retail giant Alibaba now buys a half a billion dollars for the platform.

China’s largest online retailer Alibaba has entered the Chinese version of Twitter, Weibo. Alibaba, so that gives a foothold in the rapidly growing market of social networks.

Alibaba will pay $ 586 million for a stake of 18 per cent, of Sina Weibo’s parent company said on Monday. This should be assessed on Weibo with more than three billion dollars. Alibaba will also permission to extend its holding to 30 percent.

quoted in New York Sina shares gained 19 percent.

Sina tries the face of increasing competitive pressure, for example by WeChat, for some time to make the Weibo service with over 400 million users for money. The U.S. service Twitter has around 200 million users worldwide. The company’s value is estimated at more than eight billion dollars.

Alibaba occupies a key position in the Chinese online trading. For this year is expected to IPO.

Link Tip: The Chinese Internet is censored, even Weibo. The blog blockedonweibo.tumblr.com collects what the user can not read there.

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