Alibaba Group, the Chinese e-commerce company, has agreed to buy into a locally developed search engine.
Sohu, China's second-largest internet portal, said yesterday that Alibaba and Yunfeng, a fund co-founded by Alibaba founder and chairman Jack Ma, had agreed to acquire a 16 per cent stake in Sogou, its search engine.
Another 16 per cent of Sogou would be sold to a fund set up by Charles Zhang, its chairman, the company said.
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