bill - 4:17 am on Nov 3, 2011 (gmt 0)
This investment cost Alibaba about $158 million.
Alibaba Group Invests RMB 1 Bln into ETao Search Engine [marbridgeconsulting.com]
Chinese e-commerce conglomerate Alibaba Group has announced plans to invest RMB 1 bln in its ETao e-commerce search engine.
ETao will develop a single-login cross-platform account system enabling users to use their Taobao or Alipay accounts to log into ETao and directly purchase items from over 600 partner B2C sites, including Chinese home appliance and consumer electronics retailer Gome (0493.HK) and Chinese B2C clothing website Vancl.
Perhaps they're going after Google's deal aggregator [webmasterworld.com].