The Daily Dose

We already knew it was on the cards, but today it’s official. China’s e-commerce behemoth Alibaba is acquiring mapping and navigation company AutoNavi in a deal valuing the firm at $1.5 billion. The company had previously acknowledged Alibaba’s proposal, saying it was forming a committee of independent directors to consider the proposal. Of course, Alibaba already owned a 28 percent stake in AutoNavi, so the two companies were closely aligned anyway. But by bringing the company fully under its wing, it’s going all in with maps, in what is a thinly-veiled shot at fellow Chinese giant Baidu which has been…

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