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Alibaba buys 18% stake in Weibo for USD 586 mln

2013-04-29 15:38:00| Telecompaper Headlines

(Telecompaper) Chinese e-commerce company Alibaba has acquired an 18 percent stake in Chinese microblogging service Weibo for USD 586 million. Alibaba bought the stake as part of a broader alliance with Weibo's owner Sina to develop new e-commerce and marketing services over the social network. Sina, which runs China's biggest web portal, will cooperate with Alibaba in the areas of user account connectivity, data exchange, online payment and online marketing, among other things, as well explore new business models for social commerce based on the interactions of the hundreds of millions of users on Weibo and Alibaba's e-commerce platforms. The strategic alliance is expected to generate USD 380 million in advertising and social commerce services revenues for Weibo over the next three years. Alibaba also receives an option to increase its stake in Weibo to 30 percent in future.

Tags: usd alibaba buys stake

 

Telecom buys local data firm Revera for $96.5m

2013-04-29 05:10:23| Telecom - Topix.net

Gen-i CEO Tim Miles said the Revera buy will give the Telecom subsidiary more data centre capacity.

Tags: data local firm telecom

 
 

Telenor buys into Bulgaria

2013-04-29 02:00:00| Total Telecom industry news

Norwegian telco buys mobile operator Globul and retail partner Germanos for 717 million.

Tags: bulgaria buys telenor

 

Cabot Buys Second Cicero Industrial Building

2013-04-28 03:59:00| National Real Estate Investor

Opus developed the two-building Cicero Business Center, and has sold both facilities to Cabot. read more

Tags: building industrial buys cabot

 

Herman Miller buys Maharam Fabric Corp. for $156 million

2013-04-27 03:21:34| Furniture - Topix.net

Herman Miller is spending $156 million in cash to acquire a Maharam Fabric Corp.

Tags: million corp miller fabric

 

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