Alibaba completes UCWeb acquisition, forms UC Mobile Business Group

Monday 23 June 2014 10:05 CET | News

Chinese ecommerce platform Alibaba Group has completed the acquisition and merger of UCWeb, China-based mobile browser company, to form the UC Mobile Business Group.

The full integration will enable deeper synergies between Alibaba’s strengths in ecommerce, cloud computing and big data with UCWeb’s expertise in mobile.

The UC mobile business group of Alibaba will oversee the browser, mobile search, location-based services, mobile gaming, app store and mobile reader operations.

UC Browser is UCWeb’s flagship product with more than 500 million quarterly active users worldwide. Other key assets include UC9Game, a gaming platform and PP Mobile Assistant, a mobile app distribution channel in China. Previously, Alibaba and UCWeb established a joint venture to create ‘Shenma’, a mobile search service.

Founded in 1999, Alibaba is responsible for, AliExpress, and Alipay. The company is preparing for an IPO in the US is valued at nearly USD 170 billion and is expected to be valued at USD 250 billion after it starts trading.

In recent news, Alibaba Group has affirmed plans to name the 28 people who will control the ecommerce company in an update to its initial public offering filing, reports.


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Keywords: Alibaba, UCWeb, UC Mobile Business Group, ecommerce
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce