This can happen if Taobao and Alipay IPO and that can happen if the Yahoo!
The second was the deconsolidation of Alipay effective in the first quarter of 2011.
That only leaves their private investment in Alibaba Group (primarily consisting of Taobao and Alipay).
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Ma said they had to get the Alipay license, and that without it, everything else is a zero.
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Reports this week imply that some settlement is near in the way the dispute over Alipay will be resolved.
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It also runs online shopping sites for retail consumers in China as well as an online payment service Alipay.
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WeiboPay is expected to compete with other similar services such as Alipay, a popular online payment tool provided by Alibaba.
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Tencent found this out years ago, and now Alipay and its online payment brethren are going through the same process.
Given how intertwined Alipay and Taobao are, and given that we assign significant value to it, is that relationship at risk?
Prior to yesterday, Son has been pushing for Alipay to be put in a VIE structure that the group would still control.
The first was the transfer of ownership of Alipay in August 2010.
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The restructuring was done in efforts to facilitate obtaining a Chinese regulatory license for Alipay, which it subsequently received on May 26, 2011.
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Lu, who joined Alibaba in 2000, was the founding president of its online payment service Alipay and worked in Taobao, the company said.
The Alibaba VIE recently transferred a valuable asset (Alipay, an online-payments firm) to a local Chinese company controlled by Jack Ma, Alibaba's chairman.
Alibaba Group management has taken actions to comply with Chinese law governing payment companies in order to secure a license to continue operating Alipay.
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And this morning Alibaba shot back that Yahoo has known about plans to change the structure of Alipay as far back as July 2009.
Inc. and Softbank Corp. continue to be engaged in constructive negotiations, and we have made substantive and encouraging progress toward an agreement regarding Alipay.
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It says it was warned by China's central bank that Alipay would not be allowed to operate if it was, in effect, partly foreign-owned.
Users buying products from the platform will have a choice to pay through either credit card or other third-party system such as WeiboPay or Alipay.
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Since the news of the move broke, Yahoo shares have fallen sharply, on fears that it will not be properly compensated for its share of the Alipay.
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One of the reasons why I am so bullish on Taobao and Alipay is based on my on-the-ground research in China and discussions with users and competitors.
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On May 11, Yahoo disclosed in an SEC filing that Alibaba Group had transferred ownership of its Alipay online payments business to Alibaba CEO Jack Ma.
Alibaba Group is the parent company behind Alibaba.com, an online marketplace for small businesses, Taobao, a shopping site for consumers, as well as Alipay, an online payment service.
Alipay could be the most lucrative entity within Alibaba Group.
Alipay was partially removed from the group in June 2009.
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So, the question is, how are Taobao and Alipay doing.
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So, that leaves the private investments in Taobao and Alipay.
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Yesterday, however, the PBoC told Alipay competitor Tenpay (controlled by Tencent) that their VIE structure was invalid, causing a great deal of worry for them of the future of that business.
Yahoo, Softbank and Alibaba Group issued a joint statement Sunday that is clearly addressed at trying to calm the storm over the ownership structure of the online payments company Alipay.
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