Alibaba snaps up Chinese Android app store Wandoujia

Alibaba has advanced its reach on mobile after it acquired one of China’s most prominent Android app stores, Wandoujia, in an undisclosed acquisition.

The deal was announced in Chinese only, and media in the country pegged it at around $200 million. (Alibaba declined to comment on that price when we asked.) That’s a significant amount, for sure, but it is nothing compared to the $1.9 billion that Baidu parted with to acquire 91 Wireless, China’s top Android app store, three years ago. Nonetheless, this purchase is notable for another reason: the rise and fall of valuations.

Wandoujia was reportedly valued at more than $1 billion in January 2014 when it landed a $120 million funding round led by SoftBank, however increased competition from carrier-run app stores and…

Read Story

Related Post