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’.

Don't miss out... Get your Digital news by email

See all specialist newsletters

7 related companies from Profile Hub:

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

Launching New Scrabble Format in Digital Era

15/09/2014
The Challenge Launch two new formats of the classic board...

Back to Business & Punching with the Big Boys

12/09/2014
Finding themselves left behind by the fast paced changes of...

QMH - Menu Promotion

09/09/2014
The food and beverage industry is saturated, and with the...

Castaway Spritz – branding, website and packaging design

04/09/2014
As consumer demand for fruit flavoured alcohol soars,...

South West Water: Source for searches

04/09/2014
BACKGROUND Source for Searches from South West Water offers...