Feeds

Alibaba! wants! to! be! Yahoo! purple! prince!

Would acquire a third of itself as part of the package

Remote control for virtualized desktops

The boss of Alibaba, which is part owned by Yahoo!, wants to be handed the keys to the Purple Palace.

Jack Ma told a gathering of people at Stanford University that his Chinese e-commerce company would be "very interested in Yahoo!", Reuters reported.

Alibaba runs domestic Chinese and Japanese services and also operates a bit like eBay for small businesses that want to get stuff made in the People's Republic.

Ma, who plans to set up shop in San Francisco over the next 12 months to gain a better understanding of the market, said he was keen to acquire the "whole piece of Yahoo!" and not just the stake the US company owns in Alibaba.

He brashly added: "China is already ours, right? It's already in my pocket."

Ousted and apparently "fucked over" Yahoo! CEO Carol Bartz, who was infamously fired last month over the telephone by the company's chairman Roy Bostock, had seen relations between Alibaba and Yahoo! sour during her tenure.

In 2005 Yahoo! spunked a $1bn investment on a 35 per cent stake in Alibaba, which was founded by one-time English teacher Ma in 1999.

The company's eBay clone is called TaoBao and it also ran a PayPal-like service called AliPay until it was spun off in August 2010.

That was a move that belatedly upset Yahoo!, which only told its investors in May this year about the spin-off of the AliPay biz.

It said at the time that the transaction had occurred without "the knowledge or approval of the Alibaba Group board of directors or shareholders".

Alibaba, which floated a $26bn IPO in 2007, disputed that claim, and said it had first discussed the plan in a board meeting in 2009.

Yahoo!, Alibaba and Softbank signed a framework agreement in July this year to settle the long-running row over Alipay. The deal gave Yahoo! and Softbank a chance to benefit from any future flotation or sale of Alipay, with the minimum amount payable set at $2bn and the maximum $6bn.

A little over a month after that agreement was struck Bartz was sacked. As of today Yahoo! is still searching for a replacement and the company's founder Jerry Yang said last month that his ailing business was not up for sale.

But Ma is hopeful that Alibaba can acquire Yahoo! "We are probably one of the very few companies that really understand Yahoo USA very well," he said, before adding, "We are very, very interested". ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Managing SSL certificates with ease
The lack of operational efficiencies and compliance pitfalls associated with poor SSL certificate management, and how the right SSL certificate management tool can help.