新浪和阿里巴巴29日晚间宣布签署战略合作协议，阿里巴巴以5.86亿美元购入新浪微博公司发行的优先股和普通股，占微博公司全稀释摊薄后总股份的约18%。
Beijing (CNS) -- Alibaba, China's biggest e-commerce group, and Sina Weibo, the largest Twitter-like service in the country, signed a strategic cooperation contract on Monday, under which Alibaba will pay $586 million for an 18 percent stake in Weibo.
The deal is expected to help generate additional advertising revenue for Weibo.
It will also help Alibaba drive traffic from Weibo, which has more than 500 million users, to its e-commerce sites, such as Taobao.
According to the two firms, the partnership will bring in $380 million more in advertising and social commerce revenue for Weibo over the next three years.
The two companies said the partnership will help grow their respective businesses.
They will cooperate in the areas of user account connectivity, data exchange, online payment and online marketing, among other things.
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