Yahoo announces closure of its services in China

• Yahoo has announced the discontinuation of its services in China due to commercial and legal issues. According to a statement posted on the company's website, the company's services for users in China have been discontinued as of November 1.
• Under a new law governing content and customer privacy, China has imposed stringent restrictions on Internet companies, forcing Yahoo to leave the country.
• Yahoo began offering services in China in 1998 and signed a stake sale agreement with e-commerce behemoth Alibaba in 2012. Alibaba received a four-year licence to operate Yahoo in China as part of this agreement.

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About Yahoo

• Founded: January 1994
• Founder: Jerry Yang, David Filo