19 August 2013 - 9:14am | posted by | 0 comments

Yahoo pulls the plug on Chinese email service

 Yahoo pulls the plug on Chinese email service Yahoo pulls the plug on Chinese email service

Internet giant Yahoo has pulled the plug on its Chinese email service, supplanting it with a simple statement inviting former users to transfer their accounts to Alibaba’s Alimail.

The closure of the service coincides with a gradual withdrawal from China of the Yahoo brand since its purchase of a $1bn stake in Alibaba back in 2005.

Since then Alibaba has grown to become a lead e-commerce platform, seeing it buy back 16 per cent of this stake last September for $7.6bn, leaving Yahoo with a $14bn stake remaining.

Yahoo is funneling this cash into other acquisitions to grow its presence in the Chinese market, notably the social network start-up Ztelic.

In recent months Yahoo has also shut down its Chinese music service as part of an ‘adjustment in our product strategy’.

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