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Alibaba Buying Spree Continues with $1.2 Billion Online Video Purchase
The latest Alibaba acquisition was announced yesterday (Monday), when the company spent $1.22 billion for an 18.5% stake in the Chinese online video company Youku Tudou Inc.
The move was the latest in a string of major acquisitions for the Chinese e-commerce giant. Alibaba Group Holding Ltd. has spent more than $3.5 billion on its last seven acquisitions, as it attempts to bolster its resume ahead of its highly publicized IPO.
Here's what yesterday's acquisition means for the Alibaba IPO...
The latest Alibaba acquisition was announced yesterday (Monday), when the company spent $1.22 billion for an 18.5% stake in the Chinese online video company Youku Tudou Inc.
The move was the latest in a string of major acquisitions for the Chinese e-commerce giant. Alibaba Group Holding Ltd. has spent more than $3.5 billion on its last seven acquisitions, as it attempts to bolster its resume ahead of its highly publicized IPO.
Here's what yesterday's acquisition means for the Alibaba IPO...