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Yang met Alibaba founder Jack Ma in 1997 during Yang's first trip to China. Ma, a government-employed tour guide and former English teacher, gave Yang a tour of the Great Wall of China. The two hit it off and discussed the growth of the Web. Ma created Alibaba several months later. A 1997 photo of Yang and Ma at the Great Wall still hangs on the wall in Alibaba's Hangzhou office.
In 2005, under Yang's direction but before he took over as CEO in 2007, Yahoo! purchased a 40% stake in Alibaba for $1 billion plus the assets of Yahoo! China, valued at $700 million. In 2012, Yahoo! sold a portion of its stake in Alibaba for $7.6 billion. The company made an additional $9.4 billion in Alibaba's 2014 IPO. Eric Jackson, the founder of hedge fund Ironfire Capital, called Yahoo!'s investment in Alibaba "the best investment an American company has ever made in China," and stated, "Jerry deserves enormous credit for that."
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>>60120992
Didn't that idiot also reject a $44 billion takeover from Microsoft?
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>ywn invest in or found a company that relies heavily on slave labor, government cronies, and assassinating competitors
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>>60121051
Yes.
He also signed off on hiring Marissa Mayer as the CEO after resigning due to the shareholder shitstorm that followed when search business integration deal with Google (that was pitched by Yang as an alternative to sale to Microsoft when he rejected the $44B offer) fell through due to anti-trust concerns (which investment banks and law firms advising the Yahoo-Google integration deal had warned Yahoo's board against).
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>>60121203
>He also signed off on hiring Marissa Mayer as the CEO
He had no part of that. He was forced out before she was hired.
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>>60121053
Explain please
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>>60120992
It's the only investment Yahoo made that wasn't disastrous.
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>>60123458
It's a Chinese company. It inevitably needs Guanxi to be successful, and Guanxi to us in the west looks like corruption.
I have a friend who studied in a Chinese University for a year and his Chinese friend made a voice recording of himself speaking English so his roommates cousin could get a teaching position in an American University.
He didn't think it was wrong because his roommate's cousin's father got my friend's Chinese friend's mother into a very good hospital when she was ill.
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