Feeds

Alibaba splurges half a billion on a slice of 'Chinese Twitter'

E-tailer sees commercial opportunity in Weibo

SANS - Survey on application security programs

Alibaba has moved into social media with a $586m splurge on an 18 per cent stake in China's Twitter, Weibo.

The Chinese e-tailer nabbed the microblogging site stake from Sina on Monday, valuing Weibo at more than $3.2bn. The companies reckon that their alliance will generate $380m in advertising and other revenue for Weibo in the next three years.

“Weibo and Alibaba’s e-commerce platforms are natural partners. Together we provide a unique proposition not only to existing online merchants, but also to individuals or businesses, who wish to offer products and services on social networking platforms to take advantage of the traffic shift toward social and mobile Internet," Sina chair-cum-CEO Charles Chao enthused in a canned statement.

Alibaba's founder and chair Jack Ma said the alliance "affirms our view of the vitality and importance of social media in unleashing value in ecommerce activities".

The e-tailer has the option of raising its stake in Weibo to up to 30 per cent at a mutually agreed price within a certain amount of time, according to Sina. ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.