Alibaba Plans to Buy Stakes in Advertising App Firm
Alibaba Group Holding Ltd. is one of several companies that are in discussion in buying a stake in the U.S. based advertising technology firm AppNexus. Sources that are familiar with the subject say that the talks are already in the advance stage but still no confirmation if they meet will result in an investment.
Last week the Information a technology publication states that Alibaba is planning to take stakes in several non Chinese web companies as they saw reports on one of the company’s executive returned from a recent trip to the U.S. the AppNexus is expecting to raise around US$100 million in funds and is planning to give out consideration that will values the company around US$ 1 billion. Alibaba is also planning to gain an edge in advertising by investing in AppNexus and is also looking to expand their reach outside of the U.S.
Alibaba which holds around 80 percent of all online commerce in Chine is also preparing itself for what investors are saying to be the biggest technological initial public offering as the company listing stirred excitement in the Silicon Valley and Wall Street since Facebook.