Alibaba is expanding on the small screen. A year after paying $1.22 billion for an initial 18.5% stake in video-streaming company Youku Tudou, Alibaba is now offering $3.6 billion for the rest of the Youtube-like site. Youku Tudou, whose whose name means ‘˜What’s best’ or ‘What’s cool’ is China’s largest video-streaming provider in terms of user numbers. As a result of the deal, the buyer will be able to tap into a huge new base of potential customers to which it can advertise its e-commerce services and a platform for selling digital services. Alibaba’s $26.60 a share bid values the target’s equity at about $4.2 billion, or 20% above Thursday’s closing price in New York.
Source: Alibaba Group
