Marbridge Daily

<- September 23, 2011 ->

Rumor: Alibaba Group Shares to Be Sold in Two Rounds

Sohu IT, 9/23/11

Employee shares of Chinese e-commerce conglomerate Alibaba Group will be sold off in two rounds, according to a source close to the deal. The Yunfeng Fund, initiated by David Feng Yu, Alibaba Group chairman Jack Ma, and Giant Interactive (NYSE: GA) chairman Shi Yuzhu, will participate in the first round, followed by other investors, including global IT private investment firm Silver Lake and Russian investment group Digital Sky Technologies (DST), in the second round. Chinese online game developer and operator Giant Interactive (NYSE: GA), Sequoia Capital, and Chinese sports apparel manufacturer Dongxiang Group will participate as investors in the Yunfeng E-Commerce Fund.

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