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Subject: The Chinese ecommerce giant is seeking to take full control of New York-listed Youku Tudou, the Chinese video hosting site in which it acquired a stake in 2014
Excerpt: English text from the archived bilingual edition · Chinese edition
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The Chinese ecommerce giant is seeking to take full control of New York-listed Youku Tudou, the Chinese video hosting site in which it acquired a stake in 2014
Alibaba is proposing to buy all of the shares it doesn't already own in Youku Tudou for $26.60 a share in cash. Shares in Youku Tudou closed on Thursday at $20.43
Alibaba said it had made the proposal with the support of the founding shareholders of Youku, including Victor Koo, Chengwei Capital and their affiliates
We believe that the proposed transaction, with tighter integration of our resources, will help Youku achieve exciting growth in the years ahead by leveraging Alibaba's assets in living-room entertainment, e-commerce, advertising and data analytics
Digital products, especially video, are just as important as physical goods in e-commerce, and Youku's high-quality video content will be a core component of Alibaba's digital product offering in the future
Alibaba is proposing that Youku's founder, Victor Koo, would continue to lead the business as chairman and chief executive officer. Alibaba's executive chairman Jack Ma said
"A closer partnership with Youku will give us the opportunity to support Victor and his leadership team to fulfill the dream of building the leading digital entertainment platform in China
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