Chinese e-commerce provider Alibaba announced that it has integrated its affiliates China Yahoo and Koubei.com into one company.
Named Yahoo Koubei, the new company will focus on e-commerce, communities and communications. Jin Jianhang, president of former China Yahoo, will work as president of the company.
Jack Ma, chairman of Alibaba, wrote about the merger of China Yahoo and Koubei.com in an internal email. Ma said that Yahoo Koubei would be engaged in helping small and medium enterprises as well individual businessmen of the service sector survive, grow and develop and serve as a lifestyle service platform for ordinary Chinese consumers.
The integration of China Yahoo and Koubei.com was initiated on June 1, but the relevant plan was started as early as March and was finally settled one month ago.