国产极品盛宴视频_久久亚洲精品视频免_亚洲另类 欧美日韩_天天躁中文字幕在线视频

Alibaba fancies itself the eBay, Amazon.com and PayPal of the Chinese Internet. Now it wants to add YouTube and Netflix to the list.

阿里巴巴集團(tuán)(Alibaba Group)把自己比作中國(guó)互聯(lián)網(wǎng)世界的eBay、亞馬遜(Amazon)和貝寶(PayPal)，現(xiàn)在它想再加入一點(diǎn)YoutTube和Netflix的成份。

In the latest in a string of entertainment industry acquisitions, Alibaba said Monday it will jointly take an 18.5% stake in New York-listed Youku Tudou for $1.22 billion, alongside an investment vehicle linked to Chairman Jack Ma.

阿里巴巴集團(tuán)周一宣布，阿里巴巴將與馬云(Jack Ma)創(chuàng)立的一家基金聯(lián)手斥資12億美元收購(gòu)紐約上市公司優(yōu)酷土豆18.5%的股權(quán)。為進(jìn)軍文化娛樂(lè)產(chǎn)業(yè)，阿里巴巴展開(kāi)了一連串的并購(gòu)活動(dòng)，入股優(yōu)酷土豆是其最新舉措。

In March, Alibaba acquired a majority stake in ChinaVision Media, a film and television production studio. Earlier this month, a separate investment vehicle owned by Mr. Ma and another Alibaba co-founder took a 20% stake in Wasu Media, an Internet television company with a small cable network. Add the three deals together, and that is a $3 billion spending spree.

今年3月份，阿里巴巴收購(gòu)了影視劇制作公司文化中國(guó)傳播集團(tuán)有限公司(ChinaVision Media)的多數(shù)股權(quán)。本月早些時(shí)候，馬云和阿里巴巴的另一位創(chuàng)始人通過(guò)旗下另一個(gè)投資平臺(tái)購(gòu)入互聯(lián)網(wǎng)電視公司華數(shù)傳媒控股股份有限公司(Wasu Media) 20%的股權(quán)。這三樁交易加在一起的總投資約為30億美元。

As Alibaba gears up for a massive initial public offering, a picture is emerging of an ambitious, vertically integrated video strategy encompassing content creation, broadband distribution and online streaming. Just how the pieces fit together, including the role played by Mr. Ma's investment vehicles, remains unclear.

在阿里巴巴正在為大規(guī)模的首次公開(kāi)募股(IPO)做準(zhǔn)備之際，一幅雄心勃勃的整合策略藍(lán)圖逐漸形成：阿里巴巴打算對(duì)視頻產(chǎn)業(yè)進(jìn)行垂直整合，涉足內(nèi)容創(chuàng)作、寬帶平臺(tái)建設(shè)以及線(xiàn)上流媒體等領(lǐng)域。目前還不清楚阿里巴巴將如何把這些資產(chǎn)(包括馬云的投資工具所扮演的角色)整合在一起。

Youku is one of China's top Internet video sites, combining user-generated and professional content. But it faces intense competition from search engine Baidu's video unit, as well as diversified Internet giant Tencent Holdings and New York-listed portal Sohu.com, both with their own video services.

優(yōu)酷土豆是中國(guó)頂尖的視頻網(wǎng)站之一，是將用戶(hù)自創(chuàng)內(nèi)容與專(zhuān)業(yè)內(nèi)容相融合的一個(gè)平臺(tái)。不過(guò)該公司正面臨激烈的市場(chǎng)競(jìng)爭(zhēng)，競(jìng)爭(zhēng)對(duì)手包括搜索引擎百度(Baidu)旗下的視頻子公司、綜合性互聯(lián)網(wǎng)巨頭騰訊控股有限公司(Tencent Holdings Ltd., 簡(jiǎn)稱(chēng)：騰訊控股)以及紐約上市的門(mén)戶(hù)網(wǎng)站搜狐公司(Sohu.com Inc.)，其中騰訊控股和搜狐公司都有自己的視頻業(yè)務(wù)。

The next logical step in China's Internet deal frenzy could be a video tie-up between Tencent and Sohu, since the two companies are already allied in search. Tencent was earlier in talks with Youku over a possible investment and will want to keep toe-to-toe with Alibaba.

按照邏輯，中國(guó)互聯(lián)網(wǎng)交易熱潮的下一步可能是騰訊控股與搜狐公司視頻業(yè)務(wù)的整合，因?yàn)檫@兩家公司已經(jīng)在搜索業(yè)務(wù)上展開(kāi)合作。騰訊早些時(shí)候與優(yōu)酷土豆就潛在投資進(jìn)行了談判，預(yù)計(jì)將與阿里巴巴直面交鋒。

Regulatory risks hang over the entire sector. Chinese censors recently pulled four popular U.S. television shows from the Web, including one, 'The Good Wife,' which Youku had the rights to. Last week, Beijing stripped portal site Sina Corp. of some publishing licenses over pornographic material, sending shares down 10% over two days.

監(jiān)管審查是整個(gè)視頻行業(yè)面臨的一大風(fēng)險(xiǎn)。中國(guó)審查機(jī)構(gòu)最近將四部美劇從國(guó)內(nèi)視頻網(wǎng)站下架，優(yōu)酷土豆擁有其中《傲骨賢妻》(The Good Wife)的播放權(quán)。上周，中國(guó)政府吊銷(xiāo)了新浪公司(Sina Co., SINA)的《互聯(lián)網(wǎng)出版許可證》和《信息網(wǎng)絡(luò)傳播視聽(tīng)節(jié)目許可證》，導(dǎo)致其股價(jià)在兩天內(nèi)下跌10%。

Nor is Youku coming cheap. The deal will be done at $30.50 per share, 26% higher than Youku's closing price on Friday. But because Youku will issue new shares in the transaction, this understates the premium that Alibaba is paying. Youku as a whole will be valued at $6.6 billion, 63% above its Friday market cap, or 13 times 2013 sales for the loss-making company.

優(yōu)酷土豆的售價(jià)并不便宜。阿里巴巴將以每股30.50美元收購(gòu)優(yōu)酷土豆股權(quán)，較優(yōu)酷土豆上周五收盤(pán)價(jià)高出26%。但由于優(yōu)酷土豆將在交易中發(fā)行新股，因此溢價(jià)幅度有所降低。優(yōu)酷土豆的整體估值將為66億美元，較上周五市值高出63%，相當(dāng)于這家虧損企業(yè)2013年銷(xiāo)售額的13倍。

Alibaba is already asking investors to support what could be the biggest IPO in U.S. history. Now it will also ask them to invest in a hastily agglomerated video strategy. Alibaba needs to make the case why.


阿里巴巴已經(jīng)請(qǐng)求投資者支持可能是美國(guó)歷史上最大規(guī)模的IPO，現(xiàn)在又希望投資者贊成一個(gè)倉(cāng)促成形的視頻戰(zhàn)略。阿里巴巴需要做出解釋。