Trying to open Yahoo China Web Portal lately? Don’t exhaust yourself because Yahoo China has been closed with the consensus among Chinese e-commerce and internet services which run Yahoo China and the behemoth Alibaba Group. The closed web portal shows the “bye bye” message and explains its much gloomy users that the decision to shutdown Yahoo China’s portal is perfectly in accordance with the law and a 2012 agreement made between Alibaba Group and Yahoo.
But users don’t care about the law, do they? This is a matter of concern for Yahoo China employees who will now have to leave the Yahoo tag, and move to new positions within Alibaba.
Experts perceive this as a major blow for Yahoo because back in 2005, it paid around $1 billion for a 40% stake in Alibaba, but with the passage of time, Alibaba started to deplete the Yahoo brand and gained its market across China and beyond (Korea, of course). Yahoo says that it has only a 24% stake in the Chinese company which will be taken back, soon. Many experts say this to be an act of law breach amid the already much ballooned problems for the tech giants like eBay, Google, and Facebook.