Rumor: Sina Recruits Yahoo Kimo GM, to Buy Redbaby
Netease Tech, 4/26/10
An industry source has revealed that after leaving Yahoo Kimo at the end of April, Charlene Hung, GM of Yahoo's Taiwanese auction site, will move to Chinese internet company Sina (Nasdaq: SINA), where she will be responsible for Sina's e-commerce affairs. Yahoo Kimo confirmed that Hung would leave, saying that the reason for her departure was her move to Mainland China with her family.
The industry source said that Sina could choose to grow its e-commerce business through two methods in the future: by acquiring Redbaby or other vertical B2C sites, or by extending Yahoo Kimo's "super-store" model and widely recruiting vendors for its own Sina Mall e-commerce site.
Editor's Note: A report yesterday claimed that Sina was engaged in secret acquisition talks with Redbaby; a spokesperson for Redbaby's marketing department said there had been no report of this within the company. Redbaby reported sales revenues of nearly RMB 2 bln in 2009.
Keywords: Yahoo Kimo Charlene Hung HR e-commerce Redbaby Sina Mall Internet B2C Sina revenue M&A
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