Google acquires stake in Chinese social networking site Tianya.cn

Ok..Not related to the Indian market, but definitely a high impact news - Google, who’s China efforts have been less than stellar thus far, has acquired an undisclosed stake in Chinese social network site - Tianya.cn. Various media reports put the stake anywhere between 10 - 60 %.

Google, which comes a distant second to the Chinese search engine Baidu.com, has been playing catchup in the Chinese market and has recently ramped up its efforts to make headway in China, which is now the worlds second biggest internet market (~162 million internet users) after the US.

via Reuters

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