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Alibaba offers to buy rest of China's Youku in $3.6B deal

HONG KONG (AP) — Alibaba said Friday it's offering to buy up the rest of Chinese video streaming site Youku Tudou in a $3.6 billion deal signaling the e-commerce giant's intent to expand beyond its core business of online shopping.

The deal would give the company, which has been expanding into films, a bigger platform to broadcast content including Hollywood blockbusters directly to China's growing ranks of middle-class consumers.

"Digital products, especially video, are just as important as physical goods in e-commerce, and Youku's high-quality video content will be a core component of Alibaba's digital product offering in...


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