Rumor: Alibaba Outbids Tencent, Baidu to Invest in Sina Microblog
Sohu IT, 12/21/12
Chinese e-commerce conglomerate Alibaba Group reportedly outbid Baidu (Nasdaq: BIDU) and Tencent (0700.HK) to invest in Sina's (Nasdaq: SINA) Weibo microblogging platform, and was also the most compatible partner based on a variety of other factors, according to an industry source.
Jack Ma reportedly wished to acquire a controlling stake in Weibo, but was opposed by Sina senior management.
Editor's Note: For more information on this topic, please see "Rumor: Alibaba, Sina Microblog Resume Investment Talks," MD 12/17/12 issue.
Keywords: Jack Ma e-commerce Internet investment Baidu Tencent Sina 0700.HK BIDU microblogging Alibaba Group