Tech Giants Battle in China; Goldman Upgrades SINA (SINA) to Buy
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Alibaba Takes 18% Stake in SINA (SINA) Weibo for $586M
April 29, 2013 8:08 AM EDTSINA Corporation (NASDAQ: SINA) has reached an agreement on a strategic alliance between several entities affiliated with SINA, including PRC subsidiaries of Weibo Corporation ("Weibo"), and several entities affiliated with Alibaba Group ("Alibaba"), including Taobao (China) Software Co., Ltd. and Zhejiang Tmall.com Technology Co., Ltd., to jointly explore social commerce and develop innovative marketing solutions to enable merchants on Alibaba e-commerce platforms to better connect and build relationships with Weibo users.
The two companies will cooperate in the areas of user account connectivity, data... More
