UCWeb acquired by Alibaba

Posted on Jun 10, 2014 in News

UCWeb, China’s leading mobile browser and mobile search engine, was acquired by Alibaba on June 10th for an undisclosed amount. Alibaba previously held a 66% stake in UCWeb and also participated in several fundraising rounds. This deal builds up Alibaba’s mobile strategy and makes it a more formidable competitor to Baidu and Tencent.