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Yahoo is buying a 10% stake in the upcoming IPO of Alibaba.com, the largest e-commerce company in China. Yahoo already holds a 40 percent stake in the site’s parent company, Alibaba Group, which in total controls 69% of online transaction value in China. The company is slated to debut on the Hong Kong stock market on November 6th.
Meanwhile, in the quickly growing Chinese search market Baidu is currently the dominant player and Google is growing quickly. Yahoo places third with about 12.5% of the search volume in the country.
It could prove a good investment for Yahoo; the Chinese stock market has been red hot this year, with Baidu up nearly 300% in the last 52 weeks.