AliBaba's Jack Ma buys South China Newspaper

 By Gistmaster,

E-commerce Billionaire,Jack  Ma is buying the South China Newspaper.It would be recalled that fellow ecommerce billionaire,Jeff Bezos of Amazon also bought Washington Post in 2013 for $250 Million.

Techcrunch wrote that Alibaba has jumped into the news business after the Chinese company confirmed on Friday that it has agreed to acquire the South China Morning Post (SCMP) following weeks of rumors. The Hong Kong-based newspaper and SCMP Group’s other assets, which includes local editions of Esquire and Elle, will cost Alibaba a little over HK$2 billion — around US$262 million — according to a regulatory filing.

Alibaba didn’t disclose the cost of the deal when

Alibaba now major investor in mei.com

One of the world's biggest e-commerce companies,Alibaba just announced that it would be a major investor in mei.com. Forbes reported that the company would be investing more than one hundred million dollars into mei.com, a website that