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Sunnyvale, California - (Cheap Web Hosting Directory) - October 24, 2005 - Search engine leader, Yahoo! Inc., and Alibaba.com, China’s largest e-commerce company, have announced the completion of their business combination in China.

According to Yahoo! CEO, Terry Semel, ”Together, Yahoo! and Alibaba have created one of the largest Internet companies in the fastest-growing Internet market. Through this strategic partnership, we will combine the best of commerce, search, communications and online advertising capabilities in new ways for Chinese consumers and businesses, under the management of a strong local team.”

Jack Ma, Chairman and CEO of Alibaba.com added, ”Today marks the official start of a great strategic partnership between Alibaba.com and Yahoo! Inc. By adding Yahoo! China to Alibaba.com’s portfolio of businesses, we are adding services such as search and communications to our already comprehensive range of e-commerce services. We look forward to growing the Yahoo! brand in China to create opportunities for consumers and businesses in China and around the world.”

As a result, Yahoo! now owns a more than 40 percent economic interest with 35 percent voting rights, making it the largest strategic investor in Alibaba.com. Through this strategic partnership, Alibaba.com becomes the only Internet company in China with a leading position in key growth sectors including business-to-business e-commerce, consumer e-commerce, online payment, communications and search.

To learn more, please visit: www.alibaba.com.

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