May 12, 2011
Chinese e-commerce conglomerate Alibaba Group's third-party payment subsidiary, Alipay, sent out an official announcement this morning confirming that that ownership of Alipay was restructured in 2010 so that 100% of its shares are held by Zhejiang Alibaba E-Commerce Co., Ltd., a domestic company majority-owned by Alibaba Group CEO Jack Ma.
An industry source close to Chinese Internet firm Sohu's (Nasdaq: SOHU) group buy channel, Ai Jia Tuan, said today that a final verdict had been reached for the channel, which will reportedly be folded into Sohu's Focus online real estate service and will focus on offering group buy deals on home furnishings.
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Canada-based e-commerce operator Fireswirl Technologies has announced that its subsidiary, Beijing-based e-commerce outsourcing provider Beijing Xingchang Xinda Technology Development, has signed an e-commerce collaboration agreement with Logitech to operate its official online store in China.
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