|
Update: China Yahoo Abandons Non-Core Business
China Yahoo told JLM Pacific Epoch on Monday that it has abandoned its "real domain name" service 3721.com. Yesterday, a Sina report said the site was already inaccessible. Former Alibaba Group and China Yahoo vice president Jasmine Shen said in early December that China Yahoo planned to shrink its business and focus on daily life information site koubei.com, which it merged with on June 1.
Yahoo (Nasdaq:YHOO) acquired 3721.com, established by Qihoo president Zhou Hongyi, with $120 million in November 2003; the site was taken over by China Yahoo in 2005. The real domain name service redirects users who enter keywords in the address bar of a PC with 3721 software to a specific company site.
|
