After shutting its email service in China and ceasing its Chinese music service, Yahoo China, which is operated by Chinese e-commerce and internet service Alibaba Group, has recently closed its Web portal.
Yahoo China’s website is displaying a good-bye note, mentioning that it is “adjusting its operations” due to an agreement with Alibaba and is re-directing users to now.taobao.com, a news site under Alibaba Group.
According to an agreement between Alibaba Group and Yahoo in 2012, Yahoo China’s employees will move now be joining the Alibaba.
Alibaba had started operating Yahoo China from 2005 after Yahoo paid USD 1 billion for a 40% stake in Alibaba. Last year in September, Alibaba bought back 21% of the stake at a price of USD 7.6 billion, agreeing that it can operate Yahoo China’s brand for up to four years.
According to Global Times, Yahoo China will now focus its resources on charity projects. The company had stated that it will now “shift focus on public welfare projects” in cooperation with now.taobao.com.
Last month Yahoo has shut its email service in China and users were asked to migrate their accounts to email service provided by Alibaba and in January this year it had bid farewell to Chinese music service.
Yahoo had already exited South Korea last year.
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