Alibaba has been on the lookout for diversifying its online services with a series of acquisitions and strategic alliances. Streaming video has become increasingly popular in China as mobile penetration increases and its majority stake in ChinaVision will allow Alibaba to offer more content across its different platforms.
Alibaba’s present deal takes place a month after it offered the mapping company AutoNavi Holding USD 1.13 billion for a total acquisition. However, the deal was closed for 28% stake of the latter company. Moreover, Alibaba bought an 18% stake in Sina Weibo in 2013 for the launch of a mobile payments platform.
In recent news, ChannelAdvisor, a provider of cloud-based ecommerce solutions, has added Chinese ecommerce provider Alibaba Group’s Tmall Global solution to its platform.
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