Yahoo! Shuts Down Chinese News Website

Posted Sep 3, 2013

Yahoo! China is shutting down their news website and the visitors are being rerouted to Taobao.  Yahoo! China is managed by e-commerce company Alibaba.  Yahoo! and Alibaba has been partners since 2005 when Yahoo! co-founder Jerry Yang put $1 billion into the company for a 40% stake.

Alibaba was not the market leader that they are today back then.  Alibaba now runs around 20 shopping websites.

Unfortunately, Yahoo! and Alibaba have had a rocky relationship over the last several years.  Yahoo! sold back part of their stake to Alibaba as a result.

Yahoo! gave Alibaba control of Yahoo! China for up to 4 years as part of the deal.  Most of the Yahoo! China employees will be moved over to Alibaba as a result of the shut-down.

[Source: VentureBeat]