Alibaba.com to Buy Controlling Interest in HiChina, China’s Leading Internet Infrastructure Service Provider

This news from Alibaba news site:

Alibaba.com to Buy Controlling Interest in HiChina, China’s Leading Internet Infrastructure Service Provider
Published: 28 Sep 2009 01:54:40 PST

Acquisition enhances Alibaba.com’s ability to provide

additional Internet infrastructure services and

to assist small businesses entering e-commerce

HONG KONG, September 28, 2009 – Alibaba.com (HKSE: 1688.HK) (HK.1688) has entered into a share purchase agreement to acquire China Civilink (Cayman), which operates in China as HiChina Web Solutions, for a total consideration of RMB539.98 million (US$79.06 million) in cash upon completion of two phases.  HiChina, www.net.cn, is a leading provider of Internet infrastructure services in China, including domain name services, web and server hosting services, email hosting services and website design and development services.
 
With the acquisition of HiChina, Alibaba.com gains four key assets: a new, large customer base; new, value-added applications; advanced and automated “do it yourself” Web site technology; and a strong management and operating team.  Regarding the customers, a majority of HiChina’s more than 200,000 customers do not overlap with the existing Alibaba.com customer base, allowing for increased synergy and opportunities across both HiChina and Alibaba.com.

From an application and technology perspective, the acquisition adds to Alibaba.com’s platform for helping small businesses move beyond “Meet at Alibaba” to “Work at Alibaba” by taking advantage of technology offerings and value-added services that enable entrepreneurs to open online businesses more easily.  Through the realization of “Work at Alibaba,” entrepreneurs and businesses will gain access to the necessary tools and features to operate and manage their business online through the Alibaba.com platform.

“Our vision is to make it easy for customers to do business anywhere by solving their challenges in procurement, sales, management and financing through technological upgrades, thereby raising their competitiveness and realizing industry advancement,” said David Wei, chief executive officer of Alibaba.com. “When we went public, we set on a course to seek investment opportunities to grow our customer base and acquire additional technology and new applications to achieve our vision. HiChina is a strategic fit with that vision. With the support of the seasoned and highly capable executive team at HiChina, I am confident that our complementary businesses will create synergy and expedite our transformation from ‘Meet at Alibaba’ to ‘Work at Alibaba.'”

“We identify with Alibaba.com’s vision of serving the e-commerce infrastructure needs of customers so they can more effectively ‘Work at Alibaba,’ said Xiandong Zhang, founder, president and CEO of HiChina.  “We are impressed by Alibaba.com’s technology capability, vast customer reach and management team, all of which will enhance the capability of HiChina to serve customers as a new arm of Alibaba.com’s expanding footprint.”

HiChina’s product offering will become part of Alibaba.com’s Information Technology Business Unit (ITBU), which is focused on providing small businesses with a comprehensive solution to challenges that arise from the implementation of hardware, software and Internet-based services as well as IT maintenance.

According to the terms of the deal, Alibaba.com will acquire 85 percent of HiChina for a cash consideration of RMB435.42 million (US$63.75 million) with an additional 14.67 percent retained by the founders of HiChina, who will continue to be involved in daily management of the company.  Dependent upon HiChina reaching certain performance targets, the founders of HiChina have an option to sell their 14.67 percent equity interest in HiChina to Alibaba.com over the next three years for an additional consideration of RMB104.56 million (US$15.31 million) in cash.

To further incentivize the founders and key employees to continue contributing to the success of HiChina after the acquisition, Alibaba.com has also agreed, among other things, to transfer certain shares of HiChina held by Alibaba.com to the management and key employees of HiChina pursuant to earn-in arrangements, subject to their meeting certain post-completion performance milestones during 2011 to 2015.  If all the performance milestones are 100 percent met and not exceeded, the number of Earn-in Shares to be transferred over a five-year period will amount to a total of a 15 percent equity interest in HiChina.  If any or all of the performance milestones are exceeded, the percentage of equity interest to be transferred will correspondingly increase, subject to certain limits and restrictions.

The acquisition is expected to close by the end of the year.  After the closing, HiChina, with more than 550 employees, will become a subsidiary of Alibaba.com and will retain its own brand name and operations.

Rothschild was the financial adviser to Alibaba.com for this transaction.

For more information on this announcement, see Alibaba.com’s filing with the Hong Kong Stock Exchange at http://ir.alibaba.com/.

Note: All US dollar conversions are based on an exchange rate of USD1.00=RMB6.83

About Alibaba.com Limited
Alibaba.com Limited (HKSE: 1688.HK) (HK.1688) is the global leader in business-to-business (B2B) e-commerce and the flagship company of Alibaba Group. Founded in 1999, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces: a global trade marketplace (www.alibaba.com) for importers and exporters, a Chinese marketplace (www.alibaba.com.cn) for domestic trade in China, and, through an associated company, a Japanese marketplace (www.alibaba.co.jp) facilitating trade to and from Japan. Together, its marketplaces form a community of more than 42 million registered users from more than 240 countries and regions. The company also offers business management software solutions targeting small businesses across China under the “Alisoft” brand. Founded in Hangzhou, China, Alibaba.com has offices in more than 40 cities across Greater China as well as in Europe and the United States.

About HiChina
HiChina, Founded in 1996, is the leading Internet application service provider in China. HiChina is devoted to providing comprehensive Internet application services to businesses, which covers domain services, hosting services, email systems, Web site creation, as well as consultation services for E-commerce to assist businesses in applying E-commerce to their business. Having established a strong position in the Internet infrastructure industry in China, HiChina currently serves more than 200,000 paying enterprise members.



Google China President KaiFu Lee left the Company

Google China President KaiFu Lee has left Google.


Report from here:

Google is continuing to bleed high-level executives and, this time, it is Google China’s turn. The Internet giant has announced that the company’s Head of Operations in the country, Kai-Fu Lee, will resign from his position to pursue other interests. Two executives in the company will take over Lee’s roles, Boon-Lock Yeo, who is now working as director of Google’s Shanghai engineering office, will take over the engineering department, and John Liu, VP of sales and operations, will assume the business and operations side.

“Kai-Fu has made an enormous contribution to Google over the last four years — helping dramatically to improve the quality and range of services that we offer in China and ensuring that we continue to innovate on the Web for the benefit of users and advertisers,” Alan Eustace, senior VP of engineering, says in a statement.

Lee joined Google in 2005, after leaving Microsoft’s operations in the country. This prompted Microsoft to file a suit against Lee and Google for allegedly breaching a one-year agreement that prevented him to work for a competitor. Google then filed a countersuit in a Californian court. The two companies settled in December 2005, without disclosing the terms of the agreement.

At Google China, Lee worked to establish the company in the market and has seen it grow at a very healthy pace for the past years. He was also responsible for launching the Google.cn website, the search engine’s regional version, while also strengthening the company’s team of engineers and scientists in the country. Still, Google is far behind the country’s number-one search engine, Baidu, and has also been criticized for complying with the government’s censorship requests.

“With a very strong leadership team in place, it seemed a very good moment for me to move to the next chapter in my career,” Lee shares in a statement. He will go on to start his own company in an unspecified field.

Zhang Lin, The First Chinese Man Breaks 800 Free World Record

Zhang Lin’s gold is a milestone for China swimming .

2009, July 29, Rome, Chinese Zhang Lin won the men’s 800-meter freestyle world title today, demolishing Grant Hackett’s four-year-old world record with a time of 7:32.12.

Zhang Lin (Actually Lin is his first name, Zhang is last name) made the first World Championships swimming gold for a Chinese man one to remember here on Wednesday, demolishing Aussie great Grant Hackett’s world record in winning the 800m freestyle.

2009 800m men’s freestyle final

“I’m more than five seconds quicker than Hackett’s record and I’m still surprised,” Zhang said. “I can’t believe it.”

It was the 22-year-old’s first gold medal at the World Championships – and China’s first ever men’s swimming gold at a major international event.
 
More report please yahoo news

Microsoft and Yahoo will work together on Search

News from nydailynews:

After months of rumors and speculation, Yahoo and Microsoft on Wednesday announced a 10-year search deal that the two companies positioned as a means to create innovation in the search market – and an effective way to battle Google.

Under the terms of the deal, Microsoft will power Yahoo’s search site while Yahoo will manage the sales force for both companies’ premium search advertisers.

More detail please read entire article

Street Pictures during Toronto’s 2009 Garbage Strike

Toronto’s Garbage Strike in 2009 has entered the 4th week’s end since June 22nd. The next week will be the 5th week. Here I selected some pictures of Toronto street.


Illegal dump grows at Christie Pits in June 22, 2009


A person throws his garbage into a City of Toronto Solid Waste Management truck at the Christie Pitts outdoor hockey rink as the City of Toronto is in day four of their garbage strike in Toronto on Thursday, June 25, 2009. (THE CANADIAN PRESS/Nathan Denette)


June 22, 2009 from a blog


June 27, 2009

June 22, 2009

June 23, 2009


June 23, 2009


June 29, 2009


Residents organize a small protest at the Ted Reeve Drive dumpsite. (July 16, 2009)

China’s Internet Users Outnumber U.S. Population

PCWord:

Thursday, July 16, 2009 9:50 PM PDT

China’s Internet users have surpassed the U.S. population in number, and more Chinese than ever are using e-commerce and accessing the Web through mobile phones, according to official statistics.

China had 338 million Internet users at the end of last month, the most in any country, the China Internet Network Information Center (CNNIC) said late Thursday.

Chatting on message boards, cruising around social networking sites and pursuing other entertainment were among the most popular activities for Web users, the center said in a report posted on its Web site. The number of Internet users who watched videos online rose 10 percent from six months ago. More than one-fourth now shop online.

China also led the world in the number of registered Web sites, nearly 13 million, using its .cn top-level domain, the report said.

Almost all of the reported figures rose substantially this year. Nearly all of the Internet users had broadband, which China is working to link to more remote areas

But the report gave mixed signals on the prospects for mobile broadband, which China is also pushing. The number of Chinese who used mobile phones to access some online services rose to 155 million, but just one in four of those people said they would use 3G to surf the Web in the future, the report said.

High prices and limited coverage so far have kept down 3G take-up despite aggressive marketing by China’s three mobile carriers.

The report also showed the severity of malware and other security problems in China. Over 100 million Chinese had passwords or account numbers stolen in the first of this year, and almost twice as many experienced virus or trojan attacks, it said.

Despite the huge numbers, only one in four Chinese is already an Internet user, the report said.

the star Wang zuxian (Joey Wang) has been Buddhist monks and nuns in Canada

Today the family members of ex-movie star, Wang,zuxian (王祖贤, Joey Wang) have confirmed that Wang, zuxian, Qi,Chin’s (齐秦) ex-girlfriend, the old movie “pretty baby” Wang has recently resigned as the Nepalese monks and nuns in the United States. Chin recent ex-boyfriend, said: “Personally, I judge that she will not come out.”

According to a reliable source said that in Canada many years of seclusion Wang, early in June this year in Western Canada, a convert to Buddhism Chinese Buddhist Society, cutting hair for Nepal. News, fans were in shock, but reaction quiet insider. Hong Kong senior Cha, Xiaoxin entertainment reporters yesterday told reporters in a telephone confirmed the news.

More detail check here