Alibaba Reportedly Acquires 20-30% Majority Stake In China’s Major Mapping System, AutoNavi

Posted on May 10 2013 - 11:08am by Karan Chopra

Alibaba-logo

Sina Tech is reporting that Alibaba reportedly bought up 20 to 30% majority stake in AutoNavi, China’s top mapping system and partner to Apple. Although the deal was not announced officially yet but even when contacting with Alibaba, it clears declined on commenting by saying that it’s against the company policies.

The company cracked the deal the big time when one of its rival Baidu acquired majority stake in video service PPS for $370 million. Also, interesting to note the deal comes as part the time which follows speculation suggesting that China’s big three internet companies, Alibaba, Baidu and Tencent all eyeing over on it.

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Karan Chopra, CEO at G2One Network An Internet Media Company), Founder at 99DollarWebsite and Editor/Writer at I2Mag, JustWP.org, CodeAndMe.net, TechEXplained.org, JustInfo.Graphics, HowToWebDesign.org, NextBigProduct and WPLove.co. Karan is an internet enthusiast, who loves to explore every second thing in both technology and business. You can find him on Facebook , Twitter and Google+.