SoftBank-backed Android app store Wandoujia was reportedly valued at $1bn in early 2014 and turned down a $1.5bn offer from Alibaba later the same year.
E-commerce group Alibaba confirmed today it will acquire Wandoujia, the China-based mobile app store that counts telecommunications and internet firm SoftBank as an investor, China Daily has reported.
The companies have not disclosed a purchase price but reports yesterday suggested the price would be set at about $200m, a considerable drop from the $1bn valuation at which Wandoujia last raised funding, in 2014.
Launched in 2010, Wandoujia operates an Android app store that initially grew quickly, taking a position as…
