Alibaba Group Holding Ltd. And UCWeb Inc. are joining hands to create a completely new Mobile Search Platform for the people of China, reports Wall Street Journal citing source familiar with the matter.
According to the analysis by the Government of China, there are approximately about 500 million users of Smart phones in China. Thus, Alibaba and UCWeb joint venturing is looking forward to holding on to this huge mass with their new mobile search platform.
Alibaba is one of the largest holding companies of China. On the other hand UCWeb has a huge market share in case of search platforms on android as well as other phones all over the world. The market of China is held on to by Baidu and this is the effort to dethrone Baidu.
In the deal that has been struck, UCWeb will be holding on to the maximum shares of the joint Venture. According to another statistics, Baidu holds up to 75% of the market shares when it comes to browsing on smart phones. Alibaba and UCWeb will e looking forward to put in quality and flexibility in order to push through this huge market.
It will be interesting to see the results of the tussle started between UCWeb and Baidu and who comes out the winner. In all cases, the 500 million Smartphone users of China will be on the side of profit. UCWeb’s UC Browser is the largest third-party mobile browser worldwide, with more than 500 million users.
Yesterday, on April 28, China’s leading internet television company Youku Tudou announced that Alibaba Group has invested $1.22 billion on its company.
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