Major takeover: Alibaba is snapping up Youku Tudou, China's equivalent to YouTube.
BEIJING: Billionaire Jack Ma’s Chinese e-commerce giant Alibaba announced an estimated US$4.8bil (RM20.98bil) deal to take over video streaming service Youku Tudou as it seeks to spread its online empire.
Alibaba is snapping up Youku Tudou, China’s equivalent to YouTube, in the latest of a string of acquisitions as it sets its sights far beyond its core eBay-style transactions business.
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