China's Version Of EBay Invests $586M In Twitter Counterpart

Law360, New York (April 29, 2013, 1:11 PM EDT) -- Alibaba Group Holding Ltd., China's fast-expanding version of eBay Inc., is taking a minority stake in that country's answer to Twitter, on Monday announcing a $586 million investment in social media sharing platform Weibo Corp.

SINA Corp., the Nasdaq-listed parent of Weibo, announced the investment, which will make Alibaba the company's biggest outside shareholder at 18 percent. Alibaba has the right to raise its stake to 30 percent in the future.

The companies will share information on user accounts, online payment and marketing, and will look...
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