More in the line of how difficult the China market has proven to be for U.S. internet giants, against domestic rivals: Yahoo’s China portal will be reorganized as a business-oriented search engine, reports AP...Jack Ma, CEO of Alibaba Group, which runs Yahoo’s China operations, said specialization would help ward off competition from Baidu and portals such as Sina.com. Ma acknowledged Yahoo China was lagging and losing money—although he declined to give any figures.
“We don’t want those not interested in business or making money. They can go to Baidu,” he said. “Our main focus is the high-end.” Not much details was given as to how it would archive this. Yahoo U.S. owns 40 percent stake in Alibaba.
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