Jack Ma steps down, says younger people have 'more brilliant dreams'
Jack Ma, chief executive officer of Chinese e-retail giant Alibaba, has announced that he will step aside from his current role with the company. Ma, under whose tenure Alibaba has become the second largest online company in China, says he will assume the role of executive chairman. Ma also says that most of Alibaba's leaders "born in the 1960s" will also be handing off their leadership responsibilities to younger Alibaba executives.
Alibaba pulls in $293 million, up 113.4 percent yoy
Alibaba's net income has more than doubled year-over-year, according to filings released by Yahoo last week. The filings, given by Yahoo to the Securities and Exchange Commission, reveal that the privately held Chinese e-commerce company's incomes were up 113.4 percent year-over-year to $293 million for the quarter. The company's top-line rose 70.6 percent year-over-year to hit $1.1 billion for the quarter ending in June.
Most of money from Alibaba deal to be returned
Following the closure of a deal in which it will sell back its stake in Chinese e-retailer Alibaba, Yahoo will return most of the cash to the company's shareholders. Yahoo will be giving out about $3.65 billion in after-tax proceeds from the deal, keeping about $650 million for the company. The company will retain control of 23 percent of Alibaba's common stock.
Google's Rubin gets fired up over Acer and Alibaba partnership
Google’s Andy Rubin has issued a further statement in the company’s ongoing war of words with Alibaba VP John Spelich. Spelich was moved to defend the Aliyun OS, arguing that it was not a fork of Google’s Android OS after Google forced OHA partner Asus to drop plans for a phone running the Aliyun OS. However, Rubin has retorted, “there’s really no disputing that Aliyun is based on the Android platform.”
Aliyun said to contain Android runtime, violate OHA rules
Representatives from Google have now confirmed that the company did indeed pressure Taiwanese manufacturer Acer to drop plans to release a smartphone running Chinese e-retailer Alibaba's cloud-based Aliyun operating system. A series of statements from the search giant yesterday, including a Google+ post from Andy Rubin, explained Google's action as a means of ensuring that its manufacturing partners adhered to the rules of the Open Handset Alliance, the consortium of carriers and device manufacturers supporting Google's Android platform. Google's decision to get Acer to drop the CloudMobile A800 could have repercussions throughout the mobile sector, as it signals that the search company is willing to pressure its partners into ensuring that forked versions of Android do not supplant the core version produced by Google.
Alleges Google threatened to end Android license
Just as Taiwanese electronics manufacturer Acer was preparing to reveal an Aliyun-powered smartphone, the company has now apparently canceled the press conference for the phone. The Wall Street Journal reports that Acer still wants to launch the phone, which would run Chinese e-commerce company Alibaba's cloud-based Aliyun operating system, but Acer has given no indication as to the smartphone's future. Alibaba is claiming through its own channels that the Aliyun Acer phone, the CloudMobile A800, was postponed due to pressure from Google, which makes the Android software powering a number of other Acer phones.
Half of 40 percent share in Chinese internet company at stake
According to sources familiar with the matter, Yahoo is finishing the details to offload half of its assets in China's Alibaba Group by September 20. The $7.6 billion-dollar deal announcement is rumored to be set for September 18, with Alibaba paying Yahoo for half of the 40 percent of the Chinese internet company it owns.
CloudMobile A800 to be revealed on Friday
Acer announced today that it will be releasing a new smartphone powered by Alibaba's Aliyun operating system. As The Wall Street Journal reports, the Taiwanese manufacturer will be rolling out the CloudMobile A800 smartphone to the Chinese market on Friday. The model will be Acer's highest-priced model on sale in China, and Alibaba hopes it will spur greater adoption of its cloud-based mobile operating system among other manufacturers.
Chinese e-commerce company takes aim at iOS, Android
Alibaba, the largest e-commerce company in China, is planning to increase investment in its in-house mobile OS to the tune of around $150 million per year. The company spoke with The Wall Street Journal, saying that it is seeing stronger demand for its Aliyun OS, as a number of Chinese manufacturers are dissatisfied with Google's Android, while Apple's pricing for its iOS devices may leave an opening for lower-priced competitors. With the Chinese mobile market among the world's largest, Alibaba hopes to carve out a niche offering affordable phones that rely on its cloud services.
Search engine gets $6.3B in cash, $800M in stock, more
Alibaba, a Chinese-owned e-commerce giant, has bought half of Yahoo's stake in the company through a buyback deal. The previously speculated arrangement, announced on Sunday, sees Alibaba receive half of the 40 percent stake Yahoo has in the company in exchange for $6.3 billion in cash, and around $800 million in new Alibaba preferred shares. Yahoo will also receive preferential treatment if Alibaba conducts an initial public offering, with either Alibaba buying or Yahoo selling 25 percent of the remaining stake.
Yahoo could raise up to $8 billion in new Alibaba deal
Yahoo is said to be in talks to divest 15-25 percent of its holdings in e-commerce giant Alibaba in a buyback initiated by the Chinese-owned company. According to its sources, Reuters says that the transaction is aimed at removing some or all of the issues that arose when Alibaba’s CEO Jack Ma attempted put together a deal to gain control of Yahoo. Yahoo, which owns 40 percent of Alibaba, could stand to make anywhere between $4.8 billion to $8 billion if the deal goes through.
Yahoo talks on sale reportedly stopped
ahoo and its potential Asian buyers may have finished their negotiations to buy out the online entity, AllThingsD reported. China-based Alibaba was interested in buying the company, along with Japan's telecommunications giant, SoftBank. Sources claimed the end to the discussion was due to the complex nature of the cash split, among smaller issues.
Yahoo loses Yang as new CEO takes over
(Update: more to come?) Yahoo on Tuesday said that its co-founder Jerry Yang was leaving the company. He had immediately resigned both from the Board of Directors and "all other positions" at the search giant, including a board spot at Alibaba. He sought to "pursue other interests" beyond the company but cast it as an amicable leap, putting his confidence in new CEO Scott Thompson.
Alibaba hires lobbying firm to help Yahoo bid
Alibaba continues to show strong interest in acquiring Yahoo by hiring a lobbying firm according to Reuters. Alibaba, one of China’s largest e-commerce companies already has a complex financial interconnection with Yahoo. Yahoo owns a 40 percent stake in Alibaba that is worth around $17 billion, which will need to be resolved before any proposed buyout can go ahead.
Slot critical to attracting possible investors
Since September, Yahoo has been searching for potential buyers for itself. Although there have been many potential suitors, with no apparent deal close at hand, the company is now refocusing itself on permanently filling the CEO slot, which has been vacant since Carol Bartz was fired abruptly three months ago. All Things D, citing its sources, claims that Yahoo's board is
looking at Hulu's CEO Jason Kilar.
Asian retailer collaborating with Softbank
Alibaba is said to be involved in ongoing negotiations with Japanese cellular carrier Softbank in an attempt to establish a group that is financially capable of buying Yahoo outright. Unnamed sources familiar with the matter have told Bloomberg that Blackstone Group and Bain Capital are also participating in the talks.
Thomas Lee Partners to buy all of Yahoo: sources
The latest bidder in the potential Yahoo takeover is Thomas H. Lee Partners, Reuters learned. THL is said to be looking at a leveraged buyout of Yahoo's US business, which could be worth between $5 and $6 billion. THL has run other media companies such as Nielsen Co, Clear Channel, and Univision.
Move referred to as cash-rich split-off
Yahoo is reportedly exploring options that may enable the company to shed its stake in Alibaba Group without paying taxes on proceeds from the sale, according to a Wall Street Journal report (sub. required). Successfully avoiding a tax payout could bring a savings of approximately $5 billion, as Yahoo holds a 40 percent stake—worth approximately $14 billion—in the Chinese company.
Yahoo advisers share financial information
While it's no secret that Yahoo is looking for buyers, the latest unofficial update has its long-time advisers, Goldman Sachs Group Inc and Allen & Co, readying to give out financial information to potential buyers. An unnamed source for Reuters said various types of companies have been making various creative offers for Yahoo and its various businesses. Just this past weekend, Alibaba's CEO said he was interested in buying all of Yahoo.
Jack Ma declares interest in buying Yahoo outright
Alibaba chief Jack Ma has told an audience at Stanford University that his company is interested in buying ‘all’ of Yahoo. Currently, Yahoo retains a 40 percent stake in Alibaba, an online commerce company, that is valued in the billions of dollars. However, All Things D reports that Ma has clearly signaled his intent for Alibaba to be a principal player in a takeover bid for Yahoo, and not part of a consortium.
Chinese company developing new tablet
Alibaba Group is reportedly preparing to release an English version of its mobile operating system. Details surrounding the English offering remain unclear, however the move is viewed as necessary to help the Chinese company expand its reach into new markets. The company is said to be working to establish partnerships with hardware makers to pair the English OS with new devices.
Will offer apps for its Android-based Baidu YI OS
Baidu, China's largest search provider is opening an online app store. The company hopes to encourage Chinese developers to create new content for Android phones and for phones running its new Baidu Yi OS, which the company can then distribute. The Yi OS, which Baidu officially announced at Baidu World earlier today, is based on Google's platform.
Alibaba K-Touch Cloud kicks off Aliyun OS
The cellphone field saw the rare instance of a brand new mobile OS Thursday as Alibaba unveiled the first phone based on its own platform. The Tianyu K-Touch Cloud W700 runs Alibaba's own planned cloud OS, Aliyun, and focuses on web and cloud services. It focuses on web elements like e-mail and search but should also support web-based apps and will back up call, photo, and text data in the cloud.
Gives credence that HTC Mango phones are real
Accessories for HTC's upcoming smartphones that support Window's Phone 7 Mango OS update have surfaced. Cases from manufacturer Magic Case and designed specifically for the Omega and Eternity phones are now appearing on the global trading site Alibaba. Such a listing gives credibility that the phones could be available for pre-order or actual availability in the near future.
China's Alibaba may be planning own mobile OS
Alibaba, best known for its e-commerce sites, is now working on developing its own cell phone operating system, an anonymous source close to the matter told the Wall Street Journal on Monday. The software will offer cloud-based services, unlike current popular operating systems such as Apple's iOS and Google's Android, which requires users to download apps. This will mean users of the Alibaba software are even more reliant on Internet access and subscriptions.
Chinese firms say iPad 2 cases based on real plans
Some of the companies behind recent iPad 2 case listings at online retailers like Alibaba have claimed or strongly implied that the information was obtained directly from Foxconn's parent firm Hon Hai. Fullchance Industrial, one of these companies, said in an interview on Friday that it was actively working with Hon Hai and had schematics directly from the contract manufacturer. The details were "extremely accurate," he told the Wall Street Journal when asked.
Yahoo looks to Goldman against takeover bids?
Yahoo will work with Goldman Sachs to help it defend a takeover bid, unnamed sources said in a Bloomberg Thursday report. While no bids have yet been made, AOL has been rumored to be putting together an offer. Private equity firms, bankers and some Yahoo investors have also been trying to takeover Yahoo with the help of AOL of News Corp, the sources said.
AOL exploring chances of buying Yahoo
AOL is in the very early stages of exploring a buyout of Yahoo, a leak this evening indicated. Private equity groups such as Blackstone Group and Silver Lake Partners have considered buying the search engine out but have reportedly talked to AOL about joining on a deal. Prospects mentioned to the WSJ would have China's Alibaba buy back Yahoo's 40 percent stake in its efforts to simplify a merger or even letting the normally much larger Yahoo buy AOL.
4th-gen iPod touch has front cam for FaceTime
Fresh from supplier rumors of an iPod touch with FaceTime, a pair of part suppliers on AliBaba have now posted what they claim are fourth-generation iPod touch parts. Both a front panel and a complete LCD and digitizer show a design with a camera front and center above the touchscreen. Unlike the iPhone 4, there's no speaker to offset the camera.
MS Yahoo May See Breakup
Microsoft's proposed new transaction with Yahoo is likely to involve a breakup of the latter company, say sources allegedly close to the Wall Street Journal. The claim would have Microsoft buy Yahoo's search ad business and also divest itself of its Asian interests; in return, Microsoft would make a minority investment in the smaller Yahoo that results from the deal. A reason isn't given for selling off the Eastern assets, represented by AliBaba, though the China-based company voiced opposition to Microsoft in part due to fears of a management takeover following the abortive attempt to buy Yahoo as a whole.
Yahoo Rejects MS Ultimatum
Yahoo on Monday morning published a letter rebuffing Microsoft's imposed three-week deadline to accept a takeover bid, dismissing many of the claims made in the original argument. The formal rejection again states that Microsoft's $31 per share bid "substantially undervalues" Yahoo and adds that the actual value of the deal has decreased since it was suggested in late January, with Microsoft's share value having dropped while Yahoo's has increased.
Alibaba Stake in Yahoo
Any potential Microsoft takeover of Yahoo is likely to require dealing with Chinese mega-reseller AliBaba before it can go ahead, says a source purportedly close to the latter company. As Yahoo owns nearly a 40 percent controlling stake in AliBaba, the Chinese firm is said to be pressing for greater influence from its management in any potential deal between Yahoo and an interested buyer, particularly in managing the transfer of shares.