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Yahoo Annexes Kimo, Taiwan's Largest Portal Website
According to news from Taiwan, yahoo.com , ranking the top three in the world, is going to purchase Kimo , the largest portal website in Taiwan with its 2.25 million common stocks. According to the rough estimation, the purchasing sum will be high up to four to five billion new Taiwan currency (approximately 31.5 new Taiwan currency = US$1).
This is the second time for Yahoo to invest heavily in Taiwan, the first time being the acquisition of 5% stock of ChinaTimes Interactive.
Of the famous websites in Taiwan, Kimo has more than one million visitors a day with its ads, page views and registered members listing at the top three in Taiwan. The first three seasons of this year saw its performance increase by four folds over the same period of last year, and as announced it is the first one that is able to make profits and achieve balance of payment on per quarter basis.
The acquisition has proved a shock to the Taiwan website circles. Comments say that even the largest one was annexed, let alone the survival of the smaller ones. Some predict that the move by Yahoo will trigger off a purchasing whirlpool for transnational heavyweight web-corps. to buy Taiwan's websites, thus making Taiwan's Internet industry one of the world market.
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