eBay entered China through a $180 million purchase of Shanghai-based EachNet. Expedia owner InterActiveCorp paid $168 million for 52 percent of Chinese online travel agent eLong. Online retailer Amazon.com purchased Joyo.com for $75 million, and online job search leader Monster.com bought a 40 percent stake in ChinaHR.com for $50 million.
Now, according to CNET, Yahoo is prepared to pay 1 billion dollars for a 35 percent stake in Alibaba.com.
Based in the eastern China city of Hangzhou–about two hours from Shanghai–Alibaba’s main China operations include a business-to-business e-commerce site; an online auction site called Taobao that competes with eBay in China; and a recently launched online payment system called Alipay.
