Sina Corp : * Says forms strategic alliance with Alibaba to enable social Commerce * Alibaba has invested $586 million to purchase preferred and ordinary shares representing about 18% of Weibo on a fully-diluted basis * Also granted option to Alibaba to increase its ownership in Weibo to 30% at a mutually agreed valuation within a certain period of time in future * Says the two companies will cooperate in areas of user account connectivity, data exchange, online payment & online marketing * Source text for Eikon * Further company coverage
SINA Corporation (SINA) is an online media company serving China and the global Chinese communities. Shares of SINA remained unchanged at $50.30. In the past year, the shares have traded as low as $41.14 and as high as $70.00. On average, 1989600 shares of SINA exchange hands on a given day and today's volume is recorded at 147175.
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