Yahoo has announced its plans to complete a joint venture with Uni-President Group by the end of this year. This strategic partnership marks a significant development in Taiwan’s e-commerce landscape. Uni-President Group, which has already invested US$25 million in convertible corporate bonds in Yahoo’s Taiwan e-commerce business, will hold an 80% stake in the new entity, with Yahoo retaining a 20% share.
Under this joint venture, Uni-President Group will lead the operation, aiming to leverage the combined strengths of both companies. The transaction includes an additional US$100 million investment to bolster ongoing operations. This collaboration seeks to enhance the overall development of Taiwan’s e-commerce market by creating innovative online shopping experiences for consumers.
Huang Jile, CEO of Yahoo Taiwan and General Manager of Yahoo Asia, expressed enthusiasm about the deepened cooperation. Yahoo’s wealth of talent, data insights, and digital operational experience will be crucial in driving this venture. The existing Yahoo Taiwan e-commerce brand will continue to operate under the joint venture, focusing on increasing competitiveness and offering superior products and services amidst rising market competition.
This partnership is expected to generate significant growth momentum, offering new opportunities in Taiwan’s rapidly evolving e-commerce sector. Both parties are committed to leveraging their synergies to create a more dynamic and consumer-friendly online shopping environment.
