Sunday, November 8, 2015

Alibaba Group Acquires China's Youtube Youku Tudou

Alibaba Group Holding Ltd. This week announced that it would acquire US-traded Chinese online video provider Youku Tudou in an all-cash-deal, giving it a means to secure a strong grip of the fast-growing China’s online video market.

The deal, which announced on Friday, will give the Chinese ecommerce giant an access to more than half a billion online video users, accelerating the company’s push in the Chinese digital media market.

The deal, which is expected to close in the first quarter of 2016, is subject to customary closing conditions, including the affirmative vote of the shares of Youku Tudou. Under the deal, Victor Koo will remain as Chairman and CEO of Youku Tudou. Once merger completed, Youku Tudou’s ADSs will no longer be listed on the New York Stock Exchange.

Founded in 1999, Alibaba Group Holding Limited is a Chinese ecommerce company that provides consumer-to-consumer, business-to-consumers and business-to-business sales services via web portals. The company also offers electronic payment services, shopping search engine and cloud computing services. Launched by Jack Ma in Hangzhou, China, Alibaba is the largest online and mobile ecommerce company in the world in terms of gross merchandise volume. 

Youku Tudou is a leading multi-screen entertainment and internet television platform in China, enabling users to search, view and share high-quality video content quickly and easily across multiple devices. 

Morgan Stanley Asia Ltd. is acting as financial advisor to Alibaba Group Holding Limited. Simpson Thacher & Bartlett LLP is serving as legal advisor to Alibaba while Fanda Partners and Walkers are serving as PRC legal advisor and Cayman Islands legal advisor, respectively, to Alibaba Group Holding Ltd. 

Image credit: Alibaba Group

No comments:

Introducing A Great Place To Find A Job

The marketplace where tech companies compete to hire you. Meet 5 to 15 top companies in one week with salary info upfront. You’re in demand. Shouldn’t companies you love come to you with offers upfront? We think so. That’s why Hired is changing the way you find your next job with a faster, more transparent job search process built specifically for Python Programmers, RoR Developers, Java Programmers, Software Engineers, Big Data Scientists, Data Scientists, DevOps, UI/UX Designers, Product Managers, and Web Developers.

Hired is the first two-sided marketplace created specifically for Engineers, Data Scientists, Designers and Product Managers who are overwhelmed with job opportunities.

We believe recruiting should be transparent, unbiased, and that the talent should be in control. Our one week “auctions” provide upfront offers from vetted and funded companies, dedicated talent advocates, and a $2,000 signing bonus.

Our mission is to make hiring, or getting hired, less painful. A Whole New Recruiting Model.


Learn More: GET HIRED!
What is managed cloud? Managed cloud lets you tap the power of the cloud for your strategic business goals without the frustration, cost, and time of managing it yourself.

Learn more about Managed Cloud and Rackspace the #1 managed cloud company
 —empowering you to move beyond the limitations of do-it-yourself cloud with the support of thousands of expert engineers. 

VMware: Virtualizing the Entire Data Center

Virtualizing the Entire Data Center by: VMware, The World's Leader in Virtualization and Cloud Infrastructure

VMware vSphere Essentials delivers the industry-leading virtualization platform for small businesses at an affordable price. Small businesses can virtualize their physical servers and centrally manage these servers, reducing hardware costs and increasing operating efficiency with a low upfront investment.
Provides cost-effective server consolidation and management for small offices

Learn more about the VMware vSphere Essentials