Alibaba has acquired a minority stake in Chinese digital advertising company Focus Media for $1.43bn.
Alibaba’s investment will give the e-commerce giant a 6.62% share of the Shanghai based business which owns digital advertising screens in 300 Chinese cities and claims to reach 200 million consumers.
The online retailer will also purchase a 10% stake in an entity which controls 23.34% of Focus Media. New Retail Strategic Opportunities Fund, which is described as a “non-consolidated, related party of Alibaba”, will also acquire a 1.37% interest in Focus Media, bringing Alibaba’s total investment to $2.23bn which gives the company a 10.34% stake.
Alibaba said Read full story ›
Source: The Drum
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