With the agreement, The New York Times crowned Jack as “China’s New Internet King.”
Alibaba’s ultimate ownership will be Yahoo, 40%; SoftBank, 30%; and current management, 30 percent. Does Jack feel remorseful about the seller’s parting with this 40% stake? A decade later, he looked back at the deal again: “I asked for a billion dollars, and they gave us a billion dollars. I thought the war between Taobao and eBay would drag on, so we needed enough cash to fight. In the end, $ 1 billion was enough to scare eBay. “We asked a lot of questions. But we don’t know when we get the money eBay will run away. So money [wasn’t used]. “Jack said he’s going to redo the deal with Yahoo but” in a better, smarter way, “adding,” No one knows the future. You can only create the future ”.
When the deal was announced, Jerry Yang told the media that although Alibaba was taking over Yahoo in China, this did not mean the end of the Yahoo brand in the country. However, under Alibaba’s management, the Yahoo brand will quickly fade away and actually disappear entirely from China. Within a year of the deal, local media began viewing Yahoo China as an unwanted “orphan,” while Alibaba focused more on nurturing its own child, Taobao. In May 2007, Alibaba changed its business name from Yahoo China to Yahoo China, an appropriate reflection of the person in charge.
But even after selling its China business to Alibaba, Yahoo’s image will be overshadowed in the US by the jailed Chinese journalist Shi Tao. The incident will reveal the unpredictable risks that await any foreign company planning to build a business in China’s Internet sector. Shi Tao is an editor and reporter for a newspaper in Trường Sa, capital of Hunan Province, called Contemporary trade news (DangdaiShang Bao). He is also a customer of Yahoo Mail. On April 20, 2004, Shi attended an internal editing meeting, convened by the newspaper’s deputy editor-in-chief, to discuss a confidential document sent from Beijing with instructions on how avoid social turmoil for the time being to June 15th anniversary. 4 The persecution in Tiananmen Square. Although copies of the documents were not given away, Shi Tao took notes during the meeting later that evening with his Chinese Yahoo email account, then emailed them to a Chinese democratic website. based in New York. Two days later, Yahoo China was asked by the government to hand over details about the account owner they provided that day.
On November 23, 2004, Shi was detained by the State Security Bureau in Changsha. On December 15, he was arrested and charged with disclosing national secrets. After a two-hour trial in March 2005, Shi was convicted and sentenced to 10 years in prison.
Shi’s case was quickly brought up by activist groups32, who accused Yahoo of being an “informant to the police”. The publicity and appeal, made by Shi’s journalist friends and his mother, Gao Qinsheng, failed to reverse the ruling. After what Amnesty International allegedly harassed the Chinese government, Shi’s wife divorced him.
It was a nightmare for Shi and his family. For Yahoo, it’s a black eye. For Alibaba, while currently running a business in China, this has happened from Yahoo’s point of view. Jack is asked to comment on the case and say, ‘As a business, if you can’t change the law. . . . We are not interested in politics. We only focus on e-commerce. “