Alibaba Buys Xiami, Major Music Streaming Site

International Business Times 04 June 2013
Alibaba has finalized a deal to acquire Xiami, a major music-streaming service, as the ecommerce giant positions itself to take over China’s online music industry.
Former Alibaba CEO Jack Ma, who stepped down last month, agreed last year to purchase the site, which — with its download and streaming options and creamsicle color scheme — resembles the popular MP3-streaming service, Soundcloud, Sina Tech reported. The company first announced the deal in January.
In April, Taobao, the Alibaba-owned e-retail behemoth, began rolling out functionality for Xiami, adding a “My Music” tab to users’ “My Taobao” pages
The function, embedded on the lower right-hand side of the homepage, provides users with Xiami’s music-streaming services, allowing Taobao users to play music while they shop online.
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