, the Chinese e-commerce giant Group group, said on Tuesday that it plans to spend at least $200 million in mergers and acquisitions and other investments over the next few years (Alibaba). Zhang Yu, head of Alibaba’s strategic investment department, said in an interview that the company has so far in the mobile phone software company, including 10 Ltd. (UCWEB Technology), including the company invested $73 million. Alibaba group is headquartered in Hangzhou, YAHOO (Yahoo Inc.) has a 39% stake. She said the company promised the next two to three years will also give the strategic investment department 2-3 billion U.S. dollars.
the investment plan is another example of Alibaba’s aggressive spending increase in the wake of the global economic slowdown. Alibaba also promised to invest $30 million to promote its website, and plans to increase its staff of more than 40% to reach 17000 people, while other companies have had to lay off staff to save costs.
Zhang Yu said that she would focus on investment in mobile Internet, electronic payment and other technology companies. In most cases, Alibaba group plans to hold a minority stake, and its investment company will become the company’s strategic partner. Alibaba has its own online trading platform in Hongkong listed Alibaba Network Co., Ltd. (Alibaba.com Ltd.) and China’s retail site Taobao (Taobao.com) and several other companies. According to Alibaba data, Alibaba Network Co., Ltd. in 2008 revenue of 3 billion yuan ($439 million), while Taobao transactions amounted to $15 billion.
Joe Cai Chongxin, chief financial officer of Tsai group, said: "we feel it is essential to have an investment business, and we look at new technologies in this area," said
. Alibaba has more than $1 billion in cash, which does not include the funds of listed companies…… We are looking for opportunities to contribute to our core business.
so far, Alibaba group only invest in mainland China companies, including classified advertising website reputation network (Koubei.com), the site is now fully owned by Alibaba group. But Zhang Yu says she is currently in talks with foreign companies and plans to look for opportunities around the world.
Zhang Yu said last month, Alibaba Group acquired a small number of shares in Guangzhou excellent visual scene. The company has developed a popular web browser that people can download for mobile Internet access. She said that the two companies can cooperate to develop applications for Alibaba customers through the mobile Internet shopping and complete the transaction, or product price comparison. Many of our users now have access to the Internet via mobile devices…… This is undoubtedly very important for the entire e-commerce environment. She also said that Alibaba has a superior view of a board seat, but declined to disclose the financial details of the transaction. >