Alibaba invests USD 1.22 billion in video website Youku

Tuesday 29 April 2014 09:20 CET | News

China-based ecommerce company Alibaba has made an investment in video website Youku.

Alibaba, along with Yunfeng Capital as an investment partner, has offered USD 1.22 billion, the equivalent of USD 30.50 per share, to Youku Tudou, which runs the Youku and Tudou video websites.

Alibaba Group operates an online marketplaces for both international and domestic China trade, as well as China’s most popular online payment system, Alipay.

In recent news, Alipay, an affiliate of Alibaba Group and an online payment service in China, has entered an agreement with Japanese ecommerce company Rakuten.

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Keywords: Alibaba, Youku, invest, ecommerce
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce