Alibaba buys major stake in AdChina
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E-mail Shanghai Daily, January 15, 2015
Alibaba Group said yesterday it has bought a controlling stake in Shanghai-based digital advertising company AdChina to beef up online advertising services for vendors.
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The Alibaba Headquarters in Hangzhou. [File photo] |
The two companies didn't reveal the size of the deal -- the first for Alibaba this year -- and AdChina will remain an independent unit after the completion of the acquisition.
The partners will share advertising platform and data capacities to help online media better monetize their traffic and help online vendors better place their advertisements at the right time and spot.
"AdChina's digital advertising network is a perfect complement to Alibaba's online advertising platform, which is aimed at serving vendors not only on Alibaba's Taobao and Tmall sites, but also other independently operating e-commerce websites," said Wang Hua, general manager at Alimama, Alibaba's digital advertising arm.
AdChina founder and chief executive officer Alan Yan said that the deal "will allow us to better serve clients and advertisers and build a better data management platform that serve other industry partners."
AdChina filed an initial public offering to the Securities and Exchange Commission in 2012 but pulled the listing a year later due to unfavorable stock market conditions.
Alibaba is also said to be in talks to buy a minority stake in India's online payment company One97 Communications.
Global expansion has been a key strategy of Alibaba after its initial public offering in New York raised a record US$25 billion last September.
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