RBC's Mark Mahaney is now assigning Alibaba a $150B valuation, up from a prior $110B. That, in turn, implies a $36B pre-tax valuation for Yahoo's (YHOO +1.4%) 24% stake (up from a prior $26.4B), and has led Mahaney to hike his Yahoo PT to $44 from $38.
Talks with Chinese companies and investors lead Mahaney to think Alibaba accounts for over 50% of Chinese online retail sales, and that the company's e-commerce services are complemented by "a highly effective and broad advertising monetization engine" for merchants.
He also thinks Alibaba's cloud infrastructure (IaaS) offerings (bear a resemblance to Amazon Web Services) are gaining traction. Contacts suggest Alibaba already has "hundreds of thousands" of IaaS customers.
Separately, Yahoo has made yet another acqui-hire. The target this time is QuikIO, developer of an iOS app that let users stream and download media files from their PCs. Not surprisingly, the app will be shut down, and QuikIO's team will join Yahoo.
Yesterday: Yahoo reportedly eying image-hosting platform Imgur