JACK MA’s: ALIBABA to Buy YAHOO!
The ASIAN based investment group ALIBABA along with: Softbank (Japan), the Blackstone Group and BAIN Capital are ready to place a bid to pay in full for YAHOO. It is preparing its finances to purchase the whole company. YAHOO’s estimated value is at $25 Billion ($20 per share). ALIBABA is run by its founder, Chinese Billionaire JACK MA.
In 1995, JACK MA started what is believed to be China’s first internet based company. In 1999 he started the company ALIBABA.COM, which is a business to business site which has more than 65 million members from over 240 countries. JACK MA is now Chairman and CEO of ALIBABA Group which is a holding company.
In 2005, JACK MA was listed as one of the “25 Most Powerful Business People in Asia” By FORTUNE. He was also chosen by BUSINESS WEEK as “Business Person of the Year”, as well as 1 of 30 “World’s Best CEO’s” by BARRONS in 2008. We shall surely see what the future holds for the outcome of this bid.
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Interesting Article! Keep them coming! 🙂
It’s always impossible to sort out the truth from rumour in cases like this, so only time will tell on whether Alibaba buys Yahoo or not. It’s possible though. There was that quote from Jack Ma about wanting to give Baidu sleepless nights and then there was something about a possible social network.
Haven’t heard any more on that, but I think it’s probably safe to say that they’re trying to move beyohd just offering wholesale services though.