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Rumor: Tom Online To Acquire Alibaba
March 1, 2005 |
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The Internet is rife with rumors that Tom Online (TOMO) will acquire Alibaba.com, a B2B service provider.
Tom Online's stock has not shot up dramatically after doing its initial public offering and it has been weak in competing with other portals. The company is in need of finding a new service to help itself both on the stock and revenue fronts.
Alibaba, which has been hit by fierce competition from businesses like Taobao, 1pai and eBay Eachnet, is starving for external support, so perhaps a Tom Online acquisition will also give extra backing to Alibaba's future.
Neither company has publicly confirmed or denied these rumors.
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