Following Yahooâ€™s recent announcement that they intend to buy 10% of the IPO for Alibaba.com Ltd, a company in which they already have a 40% stake, they announced yesterday that they adapted its instant-messaging service for six Asian languages, expanding to a total of 25 countries.
This seems to play right into Yahooâ€™s efforts to capture the Asian, and more specifically, the Chinese market. Yahoo seems to be moving in the right direction in my opinion. The Chinese market is one of the only remaining markets in which they can compete with and dare I say, possibly eclipse Google. I know I might be getting a bit ahead of myself by saying “eclipse Google” because I cannot see that happening, but I do admire the efforts in which Yahoo is moving forward. With so much market share up for grabs in Asia, the expansion of Asian languages in Yahoo messenger and the Alibaba IPO purchase seem to show Yahoo moving with clear direction.
Wall street has taken notice as well. Last Friday, shares in Yahoo surged as much as 8.5% when the Alibaba IPO news was released. In the month of October, Yahoo shares increased in value by 16%. Seems like things have really turned around for Yahoo, but Terry Semel and their current director, Eric Hippeau did just exercise their options. Maybe they know something others donâ€™t.