Forbes magazine reports that Yahoo is in talks with eBay's biggest competitor in China, Alibaba, to acquire a 35% stake of the ecommerce site for almost $1 billion (http://digbig.com/4eegm). Alibaba competes with eBay in China with its C2C auction marketplace TaoBao and AliPay online payment service, and it operates the Alibaba B2B marketplace.
eBay was defeated by Yahoo Auctions in only one country - Japan - which eBay exited in March of 2002. eBay operates sites in other Asian countries in addition to China, which it is counting on for growth as rates slow in its more mature markets. eBay CEO Meg Whitman told attendees at the 2005 Fortune Global Forum in Beijing in May that ultimately, China could be eBay's largest local market in a five to 10 year period.
Heated rhetoric accompanies the competitive moves by eBay and Alibaba. eBay recently launched PayPal in China, competing against Alibaba's AliPay payment service. And in June, eBay formed a strategic alliance with China's Global Sources Ltd. The battle may take on new dimensions with a Yahoo-backed Alibaba.
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