Yahoo announces closure of its services in China

Yahoo announces closure of its services in China

Daily Current Affairs / Yahoo announces closure of its services in China

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Category : International Published on: November 03 2021

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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

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