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China BizTech News Weekly Digest – May 5, 2014


 Editing by Su-Jun Lim

Alibaba, Ma to Pay $1.22 Billion for Stake in Youku Tudou

BY BLOOMBERG

Alibaba Group Holding Ltd. and its founder, Jack Ma’s privately held Yunfeng Capital will pay Youku Tudou Inc. (YOKU) $1.22 billion for a combined 18.5 percent stake. Alibaba is poised to file for a highly anticipated US IPO.

 

Fake Luxury Goods Market in China Moves to Wechat

BY WANT CHINA TIMES

Vendors in China are now selling “replicas”, which are fake goods that are almost indistinguishable to the real thing, and advertising products via chat forum or social media like WeChat (Weixin in China) as a less conspicuous route. Consumers be warned; cheaper is almost always fake.

 

Alibaba Group, UCWeb to Form Joint Venture Focusing on Mobile Search

BY THE WALL STREET JOURNAL

Alibaba joins forces with UCWeb Inc. in light of growing mobiles users and consumers’ shift from using personal computers to smartphones. The duo will introduce a new search service in China that will be called Shenma Inc.

 

The First WeChat Experience Store Opened by Chinese Discount Store Chain Shopin

BY TECHNODE

Shopin, one of China’s first bricks-and-mortar discount store chains, integrates WeChat’s payment feature into a multi-layer shopping experience.

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