Alibaba predicts that 2013 will be the year that Chinese e-commerce surpasses U.S e-commerce, with $265 billion in sales compared to a projected $230 billion for America, and that total Chinese online sales will reach $445 billion in 2015.
Alibaba chairman Jack Ma said only two companies have ever recorded annual transaction volumes at this level: Wal-Mart and Alibaba.
Can $7 billion reinvigorate Yahoo? That’s a question for new CEO Marissa Mayer, who looks to be clearing the decks in preparation for significant changes to Yahoo strategy.
In May of this year, Yahoo agreed to sell half of its …