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October 16, 2015 09:29 am GMT

Alibaba To Buy Out Chinese Video Site Youku Tudou In $3.5 Billion Deal

alibabaAlibaba, the New York-listed Chinese e-commerce giant, is getting into video in a major way, after it announced plans to buy out Youku Tudou, one of China’s top YouTube-like services, in an all cash deal. It previously invested $1.22 billion in the content firm, which claims to serve 580 million users each month. Read More

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