Alibaba buys stake in online video firm Youku Tudou
Beijing - XINHUA
China's Alibaba Group has stepped up its investment in cultural and digital entertainment industries with a strategic deal with leading online video source Youku Tudou. The deal announced on Monday, means Alibaba and private equity firm Yunfeng Capital will buy an 18.5 percent stake in Youku Tudou for 1.22 billion U.S. dollars. Alibaba holds 16.5 percent while Yunfeng Capital two percent. Alibaba's founder and chairman Jack Ma is a co-founder of Yunfeng Capital. The cooperation will support Youku Tudou's innovation in the new emerging space and accelerate Alibaba's digital entertainment and video content strategy, said Ma. It will also extend the Alibaba ecosystem and bring new products and services to Alibaba's customers, he said. The deal will help Youku Tudou build a cultural entertainment platform that integrates online and offline entertainment," said Victor Koo, chairman and CEO of Youku Tudou. Jonathan Lu Zhaoxi, CEO of Alibaba, will join Youku Tudou's board of directors. Alibaba is planning its IPO in the United States.
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Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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The Rake announces editorial updates
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