Alibaba (BABA) Takes Stake in Online Ad Firm, AdChina

Alibaba (NYSE: BABA)

Alibaba (NYSE: BABA) is said to have acquired a controlling stake in AdChina, an online advertising firm.

Total size of the investment wasn't disclosed.

AdChina will work with Alibaba's Alimama to develop a platform which would provide marketing services to businesses, online media clients, and third-party service providers, according to a statement issued by the company.

Advertising is estimated to account for more than half of Alibaba's revenue.

Shares of Alibaba are lower in early trading Wednesday.

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