Alibaba eyes digital content as its founder and other partners shell out $1b for Wasu Media stake
Apr09
Chinese e-commerce giant Alibaba developed a smart TV operating system last year and started working with a number of partners to come up with smart TVs, set-top boxes and services to run inside them. Now, the company is stepping up efforts to boost digital content as it seeks to engage users and conquer the living room of the Chinese — via an affiliated $1 billion investment deal, as well as a strategic cooperation agreement. Alibaba Chairman and founder Jack Ma and co-founder Simon Xie, along with Chinese billionaire Shi Yuzhu, are shelling out CNY6.54 billion ($1.05 billion) for a 20 percent stake in digital media…
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