Yahoo shuts down China site following steep drop in popularity
Yahoo has reportedly shut down its Chinese portal for news and community.
London: Yahoo has reportedly shut down its Chinese portal for news and community in order to adjust its operations strategy and redirects its users to a site run by Alibaba.
Yahoo has a significant stake in Alibaba, the business-to-business online retailer which has been licensed to run its Chinese services and the move indicates that Yahoo’s staff will be working on Alibaba content instead.
According to BBC, social media services such as the Twitter-like platform offered by Weibo are hugely popular in China despite being openly censored and Yahoo’s waning popularity in the market has led to the move.
Anlayst Li Zhi from Analysys International said that China Yahoo has been under Alibaba for many years and its most valuable properties have been dismembered and used.
Li added that it has no need for China Yahoo that''s been squeezed dry, the report said.