Alibaba wants to buy Yahoo

Posted by Techvibes Newsdesk on 2011-10-03 3:02:00 PM

Chinese e-commerce titan Alibaba wants to buy Yahoo, America's struggling web portal (or whatever it is these days).

In an interview held at Standford University, CEO Jack Ma said he is "very interested" in the company, but a spokeswoman for Yahoo offered no reply to Jack's words.

The Alibaba founder stated that he wanted the entire company, not just select assets, and pointed out that his company "really understands" Yahoo, referencing their long-standing relationship. Takeover talk is humming because Yahoo is currently ailing: it just fired its last CEO this month, hasn't been able to maintain a consistent focus, and has suffered a decline in traffic.

This low point makes it attractive as an acquisition or merger target but the company is hesitant to make such a bold move. Jack called the ordeal "more complicated" than anticipated, and noted that his company is not the only one interested in Yahoo.

Company:
Yahoo! Inc
Website:
http://yahoo.com
Location:
Sunnyvale, California, United States

Founded in 1994 by Stanford Ph.D. students David Filo and Jerry Yang, Yahoo! began as a hobby and has evolved into a leading global brand that has changed the way people communicate with each other, conduct transactions and access, share, and create information. Today, led by an executive team that includes CEO and Chief Yahoo Jerry Yang, President Susan Decker, Chief Financial Officer Blake Jorgensen, and... more

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Techvibes Newsdesk

Techvibes Newsdesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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