Alibaba takes majority stake in China's digital marketing platformJanuary 14, 2015 - 11:42 AMT PanARMENIAN.Net - Chinese e-commerce giant Alibaba will take a majority stake in AdChina, which calls itself China's leading digital marketing platform, to develop online and mobile marketing, the Internet powerhouse said Wednesday, Jan 14, according to AFP. Alibaba had made a strategic investment in AdChina, it said in a statement, without giving the amount. An Alibaba spokeswoman said financial details were not disclosed. Alibaba, which listed on the New York Stock Exchange last year, said the deal would allow the company to grow its online and mobile marketing "ecosystem". The two companies will also develop online marketing services and data marketing products for businesses, media clients and third-party service providers, the statement said. Alibaba is often described as the Chinese version of eBay, and like the U.S. company has its own payments system. It has no product stocks itself, instead connecting buyers and sellers. The company's consumer-to-consumer platform, Taobao, is estimated to hold more than 90 percent of the Chinese market with over 800 million product listings and around 500 million registered users. Alibaba founder Jack Ma has shown ambitions beyond e-commerce, including entertainment and sports, purchasing a half-share in a Chinese football club. Alibaba Pictures Group said this week it had signed Hong Kong filmmaker Wong Kar-wai for a movie project, its first since taking a controlling interest in a Hong Kong-listed company and changing its name. Alibaba closed down 0.84 percent at $100.77 on Tuesday in U.S. trading. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, U.S. to upgrade Strategic Dialogue meeting to Strategic Partnership Commission The two governments have release a statement on the occasion of the U.S.-Armenia Strategic Dialogue Capstone meeting. Azerbaijan complains to Germany about Armenia's constitution Bayramov has complained about the Armenian constitution to his German counterpart Annalena Berbock. idcoin: New tool in IDBank’s loyalty system IDBank has announced the launch of idcoin, a new tool in the customer loyalty system. U.S., Armenia sign customs deal According to Armenian customs data, U.S.-Armenian trade reached $670 million last year. |