Alibaba’s Jack Ma may buy Yahoo

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Jack Ma, chief executive officer of the Alibaba Group, became the first party to publicly express interest in buying Yahoo when he talked about the struggling internet company while onstage at the China 2.0 conference at Stanford University.

 

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Jack Ma "very interested" in buying Yahoo

Mr. Ma said: “We are very interested” in reply to a questioner who asked if Alibaba was considering buying Yahoo.  Ma’s statement confirmed what had already been reported; that Alibaba, along with Providence Partners, Andreesen Horowitz, Microsoft, and Silver Lake Partners are among the suitors who have made overtures to Yahoo.

 

Selling all of part of Yahoo is one of the options Yahoo’s board is considering following its firing of chief executive Carol Bartz, who was not successful in moving the company forward during her 2 ½ year tenure.  Yahoo has not yet commented on Mr. Ma’s interest in acquiring the company, but the two have had a fractious relationship since Yahoo acquired 40 percent of Alibaba years ago.  Differences arose over human rights issues, and Alibaba’s online payment service, which Ma transferred to a separate company under his control, but without informing the Yahoo board beforehand.

 

Yahoo said Ma did not tell the board about the AliPay transfer until after it was complete, and indicated Alibaba was not compensated appropriately. The two have since resolved the dispute but relations between them have not been good, and Ma has frequently said that he would like to get back Yahoo’s 40 percent stake in Alibaba, which he would of course if he bought Yahoo.


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Author: David John Walker

Dave has a B.A. in Mathematics, loves writing and reading about the latest developments in technology and social media, and has been working as a freelance writer for five years.

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