Rumor: Alibaba Acquires Online Music Provider Xiami

TechWeb, 1/10/13

Following Chinese e-commerce conglomerate Alibaba Group's business unit restructuring, Eddie Wu will head up the new Music business unit, which will reportedly be formed through an acquisition of online music website Xiami.com.

When contacted by TechWeb, Xiami COO Wang Xiaowei said that any announcement would be made by the company. Wang did say, however, that Xiami had been in contact with the investment departments of a number of internet companies over the past year, including Tencent (0700.HK), Baidu (Nasdaq: BIDU), and Alibaba.

Xiami.com was established in 2006 as a P2P music sharing community. Founder Wang Hao formerly served as a systems analyst for Alibaba.com, leaving to start Xiami before Alibaba.com's IPO. All four of Xiami's other founding employees are also former Alibaba employees.

Keywords: Wang Hao e-commerce Internet online music Wang Xiaowei Xiami Eddie Wu M&A HR

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily