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Internet conglomerate InterActiveCorp to spend $100 million in China.(INTERNET)
China Telecom, December, 2007
According to Media mogul Barry Diller, his Web conglomerate, IAC/InterActiveCorp, is willing to invest $100 million in China for developing services for the country's users. He said that all the Internet offerings would be customized for Chinese users only, adding that IAC would unveil its Ask.com search engine in China in the next two years.
The Internet brands of IAC include directory service Citysearch, dating Web site Match.com, and portal Excite. China has about 162 million Internet users, the world's second-largest population of Web users, after the United States. Foreign players have not generally been able to make their presence felt in the country. Consequently, Internet giants like Yahoo! and eBay have been forced to team up with local partners to...
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