Alibaba Makes $750 Millions Vanish
The owner of Yahoo China spent three-fourths of the $1 billion it received from Yahoo last summer on research & development and other projects.
One of the projects cited by Alibaba CEO Jack Ma, and reported on by Search Engine Roundtable from Ma’s keynote at SES China may involve a more Sino-centric approach to search in his country.
Ma commented on the need for unique products for the Chinese market:
As far as competition in other areas, like online auctions, Ma issued the “bring it on” kind of challenge he has made in the past. He is not afraid of eBay or Google, and in three years plans to play in the world of e-commerce.
Nor is Ma afraid of Microsoft, either. With 120 million small to medium enterprises using Alibaba, he made another observation about his firm and the tech titan:
David Utter is a staff writer for WebProNews covering technology and business.