Alibaba was founded by Jack Ma in 1999 as a bulletin board services so that businesses can post, buy and sell pilot sales. Softbank, a telecommunications and media corporation based in Japan, is one of the earliest investor. This Japanese company initially invests U.S. $ 18 million in 2000 and then the following also participated in the financing. Next, Alibaba become a global website for small and medium enterprises, not only to identify potential future trading partners but also to interact with each other and conduct business online.
By October 2005, Alibaba and Yahoo! forge a long term strategy of partnership, with Yahoo! taking over 40% of Alibaba Company at U.S. $ 1 billion with assets of Yahoo! China, which amounted to around U.S. $ 700 million. Through this partnership, Yahoo! Alibaba also gets technology and can be universally utilized. Yahoo! has also entered into the online search business portfolio Alibaba e-commerce and thus, help Alibaba become one of the largest Internet company in China.
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