Today, the long-rumored merger of Yahoo China and Alibaba finally chose Chinese Valentine's Day "July 7th" to be officially released. Yahoo China married Alibaba, a bandit, with a dowry of $1 billion.

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Sina Science and Technology News on August 11, Alibaba and Yahoo held a press conference in Beijing to announce that the two sides had signed a cooperation agreement. Alibaba acquired all of Yahoo's China assets, received a $1 billion investment from Yahoo and enjoyed the exclusive right to use Yahoo's brands and technologies in China. Yahoo received 40 per cent of Alibaba's economic interests and 35 per cent of the voting rights.
Yahoo's China assets acquired by Alibaba include Yahoo's portal, Yisou, IM products, 3721 and all Yahoo's assets in Yipai.
after Alibaba receives a capital injection of US $1 billion from Yahoo, the members of the board of directors will be changed, including four board seats, two for Alibaba, one for Yahoo and one for Softbank Corp., specifically Alibaba CEO Ma Yun, Alibaba CFO Cai Chongxin, Yahoo founder Yang Zhiyuan and Softbank Corp. Chairman Sun Zhengyi.
after the integration of Yahoo China, all the operation and management of Yahoo China will be handed over to Alibaba. Alibaba CEO Ma Yun said that he will take up the position of general manager of Yahoo China and manage all Yahoo's business in China. He also stressed that after Alibaba's acquisition, Yahoo China is not a joint venture company, but Yahoo transferred all its China business to Alibaba to manage.
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Today's IT summer is really hot.