By Hannah Kuchler in San Francisco and Arash Massoudi in New York
Any worries that Alibaba, China’s largest e-commerce company, would not be able to list its shares in the US appear to have been put to rest. The company, which is preparing for an initial public offering in the coming months, has received assurances from the New York Stock and Nasdaq that the partnership structure for its expected share offering will be permitted under the rules of both exchanges. According to media reports confirmed by a person familiar with the matter, Alibaba will now be able to go public with the structure that the Hong Kong Exchange refused to accept. NYSE, Nasdaq and Alibaba declined to comment. Read more
China’s biggest ecommerce company, Alibaba, has joined the growing enthusiasm for cloud storage applications, buying Kanbox for an undisclosed amount.
Kanbox offers free storage for documents, photos and other files, bringing Alibaba into competition with other Chinese heavyweights Tencent and Baidu, which offer similar services. The company raised $20m in Series B funding two years ago, so the acquisition value is likely to have been several hundred million dollars. Read more
Alibaba, China’s ambitious internet conglomerate, has spread its reach from e-commerce to finance, and now to internet television. Read more
Yahoo just moved another step forward in its bid to control the end-game that has been taking shape around its future.
Silver Lake has agreed to enter into confidential discussions with the US internet company, making it the latest private equity firm to go this route – and potentially robbing Alibaba and Softbank of an ally as they consider making a play for Yahoo themselves. But it’s still far too early to call it “game over”. Read more
Ebay chief executive John Donahoe said the Chinese government won’t let foreign-owned internet companies win in that country, but added PayPal will nonetheless bend to fit new rules and stay in the market. Read more
A leading US online media and communications firm owned and controlled from mainland China?
That spectre was raised on Friday by Jack Ma, head of Alibaba, as he announced his interest in buying Yahoo. After all the angst caused by US internet companies venturing into China in recent years, his declaration raises the possibility of an interesting reversal. Read more
Yahoo’s investment bank is “fielding inquiries from multiple parties” about various options that could include a sale of all or some of the company, according to an all-hands email sent Friday by Yahoo’s founders and chairman. Read more
Following through on its pledge earlier this week to weigh new strategic options even as it looks for a new chief executive, Yahoo and its bankers are already fielding inquiries. Read more