8/11/2005

GMSV: OK, $1 billion. Now get those 40 thieves out of my boardroom

I love their story titles! -- law

EBay's efforts to dominate Internet auctions in China may soon sour if rumors flitting about the valley today prove true. Yahoo reportedly is planning to buy a 35 percent stake in Alibaba, China’s biggest e-commerce company. People familiar with the negotiations tell Forbes that Yahoo might spend as much as $1 billion on the stake, which would be the largest foreign investment ever made in a Chinese technology company. Alibaba runs three popular online marketplaces in China, among them an auction site, Tao Bao, eBay’s Chinese nemesis. A deal like the one described in Forbes would almost immediately position Yahoo as a leader in China's developing e-commerce market and deal a serious blow to eBay's interests there.

Good Morning Silicon Valley: OK, $1 billion. Now get those 40 thieves out of my boardroom

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