Alibaba has acquired a majority stake in News Corp-backed digital advertising platform AdChina for an undisclosed sum.
E-commerce company Alibaba bought a majority stake in AdChina, a China-based digital advertising technology platform backed by media group News Corp, for an undisclosed sum yesterday.
Founded in the US in 2007, AdChina runs an online advertising network focused on the Chinese market. It filed for a $100m initial public offering on Nasdaq in February 2012 but withdrew it in early 2013 due to legal issues involving Chinese companies filing in the US.
The 2012 regulatory filing revealed that News…