Alibaba to acquire Youku Tudou

Q.  E-commerce giant Alibaba has announced the acquisition of which video streaming service on November 8, 2015?
- Published on 09 Nov 15

a. Youku Tudou
b. Spotify
c. Netflix
d. Hulu

ANSWER: Youku Tudou
 
Billionaire Jack Ma’s Alibaba has announced a USD 4.8 billion acquisition deal for video streaming service Youku Tudou. The latter is the Chinese YouTube. Alibaba will pay USD 27.60 in cash per US traded American depository share in a definitive merger agreement over Youku Tudou. This is around USD 1 more than the initial takeover bid made last month by Alibaba. The e-commerce giant owns more than 18% of Youku Tudou already. Deal was approved by Youku Tudou’s board.

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