The acquisition announcement was made in Chinese only, and Chinese media has suggested that the price was around USD 200 million, according to techcrunch.com.
According to data from Analysys International, Wandoujia is considered China’s fifth largest app store, with around six percent marketshare. The startup was founded in 2009 by former Google China-er Junyu Wang and telecoms engineer Jack Feng, and it claimed 300 million users in 2014. Beyond apps, Wandoujia also offers mobile content and search products.
The app was initially funded by SoftBank in January 2014 and was valued at more than USD 1 billion; but increased competition from carrier-run app stores and rivals like 91 Wireless and Qihoo 360, not to mention reports of internal conflict, have impacted its development since then.
Wandoujia will be made part of Alibaba’s mobile division, which includes browser-maker UC Web, the company acquired in 2014. Wandoujia has the potential to be a major distribution platform and channel through which Alibaba can engage and interact with Chinese consumers, according to techcrunch.com.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now