Following the announcement of the closure of its social networking service Yahoo Guanxi a few days ago, China Yahoo has now announced on its official forum that it will shut its space service on October 30, 2009.

According to a report published by China Yahoo's community operation department, the company plans to close its one-year-old social networking site Yahoo Guanxi on October 30, 2009.

Four years after acquiring a 40% stake in China-based Alibaba Group for USD1 billion, Yahoo has sold all of its shares in Alibaba.com, a subsidiary of Alibaba Group, for about USD150 million.

As a result of the separation of Koubei.com from China Yahoo, local media reports that about 100 employees from Koubei.com in Beijing may resign from the company.

Chinese B2B e-commerce group Alibaba.com has announced that based on its "Big Taobao" strategy, the group will merge its lifestyle website Yahoo Koubei into its Internet shopping platform Taobao.com.

Chinese B2B e-commerce group Alibaba has signed a cooperative agreement with Chengdu Hi-Tech Industrial Development Zone on its new western base project, making Chengdu the first stop for the group's domestic distribution apart from its Zhejiang headquarters.

Chinese e-commerce giant Alibaba has announced plans to invest CNY300 million in the newly merged Yahoo (YAHOO) Koubei Company in 2009 to develop the lifestyle services business of the company.

Shen Jianming, vice president for Alibaba Group and vice president for Yahoo (YHOO) China, told local media that she has resigned her positions and officially departed from Alibaba Group.

Chinese e-commerce provider Alibaba announced that it has integrated its affiliates China Yahoo and Koubei.com into one company.