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November 22, 2010, 10:02 PM EST
By Susan Li and Mark Lee
(Updates with official’s comment in second paragraph.)
Nov. 23 (Bloomberg) -- Yahoo! Inc. is still working with Alibaba Group Holding Ltd. on technologies for services such as e-mail and online advertising, after the Chinese company said it no longer needs to partner with its U.S. investor.
“We still have a lot of technology collaboration,” Rose Tsou, managing director of Yahoo’s Asia Pacific division, said in an interview in Hong Kong today. “We help them with the advertising serving platform for display advertising.”
Alibaba, China’s biggest e-commerce company, said in September Yahoo’s decision to stop running its own search-engine technology has removed the biggest reason for a partnership between the two. Earlier this year, Yahoo rejected an offer from Alibaba to buy back some of the 39 percent stake the Sunnyvale, California-based company holds in the Chinese firm.
“We are still very happy about our partnership with Alibaba in China, and we see China as a tremendous opportunity for Yahoo,” Tsou said in an interview with Susan Li on Bloomberg Television’s “First Up.”
John Spelich, a spokesman for Alibaba in Hong Kong, didn’t immediately reply to messages left by e-mail or voice mail seeking comment today.
Yahoo, which agreed to integrate its search-engine division with that of Microsoft Corp., has lost its own search technology, David Wei, head of the Chinese company’s Alibaba.com Ltd. unit, said Sept. 10. Yahoo became just a “financial investor” at Alibaba, Wei said.
In 2005, Yahoo became the biggest investor in Alibaba, after paying $1 billion and ownership of its Chinese operations to the Hangzhou, eastern China-based company. Alibaba operates e-commerce businesses including Alibaba.com and Taobao.com, in addition to Yahoo’s China website.
--Editors: Anand Krishnamoorthy.
To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net
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(Updates with official’s comment in second paragraph.)
Nov. 23 (Bloomberg) -- Yahoo! Inc. is still working with Alibaba Group Holding Ltd. on technologies for services such as e-mail and online advertising, after the Chinese company said it no longer needs to partner with its U.S. investor.
“We still have a lot of technology collaboration,” Rose Tsou, managing director of Yahoo’s Asia Pacific division, said in an interview in Hong Kong today. “We help them with the advertising serving platform for display advertising.”
Alibaba, China’s biggest e-commerce company, said in September Yahoo’s decision to stop running its own search-engine technology has removed the biggest reason for a partnership between the two. Earlier this year, Yahoo rejected an offer from Alibaba to buy back some of the 39 percent stake the Sunnyvale, California-based company holds in the Chinese firm.
“We are still very happy about our partnership with Alibaba in China, and we see China as a tremendous opportunity for Yahoo,” Tsou said in an interview with Susan Li on Bloomberg Television’s “First Up.”
John Spelich, a spokesman for Alibaba in Hong Kong, didn’t immediately reply to messages left by e-mail or voice mail seeking comment today.
Yahoo, which agreed to integrate its search-engine division with that of Microsoft Corp., has lost its own search technology, David Wei, head of the Chinese company’s Alibaba.com Ltd. unit, said Sept. 10. Yahoo became just a “financial investor” at Alibaba, Wei said.
In 2005, Yahoo became the biggest investor in Alibaba, after paying $1 billion and ownership of its Chinese operations to the Hangzhou, eastern China-based company. Alibaba operates e-commerce businesses including Alibaba.com and Taobao.com, in addition to Yahoo’s China website.
--Editors: Anand Krishnamoorthy.
To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net
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