Yahoo confirms alibaba.com deal

Filed in archive Venture Capital on August 11, 2005

Yahoo has confirmed the rumors we had mentioned here as well:

"Everyone's talking but no one's listening. Yahoo's 1 billion dollar 40 percent stake in Alibaba, China's largest e-commerce firm does not illustrate that a Net bubble is back, but it does give new meaning to the title character, Ali Baba from the Arabian Nights, who accesses treasure from a magical password."