Alibaba takes majority stake in China's digital marketing platformJanuary 14, 2015 - 11:42 AMT PanARMENIAN.Net - Chinese e-commerce giant Alibaba will take a majority stake in AdChina, which calls itself China's leading digital marketing platform, to develop online and mobile marketing, the Internet powerhouse said Wednesday, Jan 14, according to AFP. Alibaba had made a strategic investment in AdChina, it said in a statement, without giving the amount. An Alibaba spokeswoman said financial details were not disclosed. Alibaba, which listed on the New York Stock Exchange last year, said the deal would allow the company to grow its online and mobile marketing "ecosystem". The two companies will also develop online marketing services and data marketing products for businesses, media clients and third-party service providers, the statement said. Alibaba is often described as the Chinese version of eBay, and like the U.S. company has its own payments system. It has no product stocks itself, instead connecting buyers and sellers. The company's consumer-to-consumer platform, Taobao, is estimated to hold more than 90 percent of the Chinese market with over 800 million product listings and around 500 million registered users. Alibaba founder Jack Ma has shown ambitions beyond e-commerce, including entertainment and sports, purchasing a half-share in a Chinese football club. Alibaba Pictures Group said this week it had signed Hong Kong filmmaker Wong Kar-wai for a movie project, its first since taking a controlling interest in a Hong Kong-listed company and changing its name. Alibaba closed down 0.84 percent at $100.77 on Tuesday in U.S. trading. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | About 32,000 rally in Yerevan to deman Pashinyan’s resignation About 31,700 people attended an opposition rally on Thursday, May 9 in Yerevan demanding the resignation of Prime Minister Nikol Pashinyan. Armenian, Azerbaijani Foreign Minister to meet in Almaty Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart Jeyhun Bayramov will meet in Almaty. Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. |