Yahoo Hits the Chinese Market

Today, a new Yahoo acquisition hit the market after the regulators finally allowed the giant portal to buy Wretch, a Taiwanese based social networking site. According to 901am, the giant portal paid $21.2 million for the webpage that currently has more than 2.8 million users. Wretch is now placed on the 36th position in Alexa and will help the giant portal Yahoo increase its presence on the Asian market.

"Yahoo has won regulatory approval to acquire Taiwanese based social networking site Wretch.cc for $21.2m. According to reports, the purchase had been held up by the Taiwanese Fair Trade Commission, who investigated complaints that the acquisition would give Yahoo Taiwan unfair control over Internet advertising rates in Taiwan, and excessive market share as well," the same publication reported.

Now, there is only a question that comes in our minds: is Yahoo able to conquer Asia using multiple and small acquisitions or should it try to buy one of the local Internet giants? As you surely know, Yahoo had several attempts to expand its presence in China but every time, it encountered more or less difficult problems. One of the most powerful opponents was surely Baidu, the local online leader that attracted the majority of users.

Recently, the search giant Google reported the company has big problems with the local agents that are pretending to be hired by the company and try to sell their products. It seems like there are more than 300 fake agents that already sold Google services to numerous companies and after they received the money, they didn't provide any of the products. It seems like even the residents of the Asian countries are rejecting the Google and Yahoo expansion as they are attracted to visit alternative services provided by other companies.