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Monday, Apr 29
Sina's (SINA) partnership with Alibaba, long rumored, is aimed at Tencent (TCEHY.PK): the...
Sina's (SINA) partnership with Alibaba, long rumored, is aimed at Tencent (TCEHY.PK): the company's WeChat mobile IM platform has become a serious rival to Weibo, and its e-commerce sales rose 49% Y/Y in Q4 to $273M. Last month, Tencent announced plans to merge its QQ Mall and QQ Buy e-commerce sites to better take on Alibaba, and 2 weeks ago, it announced e-commerce integration for WeChat. Tencent has also launched an online payments service that competes with Alibaba's dominant Alipay and Sina's WeiboPay; the latter might now get shuttered. Alibaba's investment gives Yahoo (YHOO) an indirect 4.3% stake in Sina, which promises the deal will produce $380M in revenue over the next 3 years.