HONG KONG, TOKYO AND SUNNYVALE, Calif, July 29, 2011 – Alibaba Group, Yahoo! (NASDAQ: YHOO), and SoftBank (TYO: JP:9984) today announced they have reached an agreement in which Alibaba Group will continue to participate in Alipay’s future financial performance, including a future IPO or other liquidity event. The agreement is consistent with the two agreed-upon principles established at the outset of the negotiations: structure the inter-company relationship between Alipay and Taobao in order to preserve the value within Taobao and, by extension, within Alibaba Group; and provide that Alibaba Group is appropriately compensated for the value of Alipay.
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Tags: alibaba,SoftBank,Yahoo
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