Alibaba, China's biggest e-commerce company, has paid $586 million to purchase 18% stake (plus 12% optional stake) of Weibo, China's biggest twitter-like SNS website.
The deal has mutual advantages. Alibaba wants the deal to help drive internet traffic from Weibo to Alibaba's e-commerce websites such as taobao.com, and Weibo wants it to generate additional advertising revenue to ease its profit-making pressure.
Well, the picture below might be the true reason why Jack Ma, the chairman of Alibaba, wanted to purchase (the stake of) Weibo:
The picture is about some banquet where lots of movie stars were updating their Weibo posts by taking photos, which made Jack Ma (the first one from right) felt isolated, so he decided to buy Weibo to tell the guys:
hey, just for tips: Weibo is mine.
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