Alibaba Buys Youku in Deal Said to Be Valued at $4.8 Billion

Updated on
  • Alibaba raised bid on video service by $1 to $27.60 a share
  • `YouTube of China' had 286 million unique visitors in August

Alibaba Group Holding Ltd. agreed to buy video service Youku Tudou Inc. in a deal said to be valued at $4.8 billion in total, as billionaire Jack Ma seeks to stream more content to Chinese Internet users through control of the YouTube-like site.

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