Chinese Cashing In On Their Dots

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.
logo_alibaba.gif
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.

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am now head of brand strategy and creative direction at Bonehook in Portland, Oregon.