Yahoo Japan, a subsidiary of U.S. Web portal Yahoo (YHOO), is considering an e-commerce partnership with China giant Alibaba Group (BABA) that could start this summer, according to a media report on Friday. The two sides are discussing teaming up to help Japanese firms sell household goods, cosmetics and baby products on Alibaba’s Tmall and Tmall Global sites, according to Bloomberg. The alliance would offer support and lower fees for Japanese
Video game retailer GameStop (GME) crushed Wall Street’s Q1 estimates and ripped out its still-beating heart in triumph late Thursday, thanks to hit titles like ultra-violent fighting game “Mortal Kombat X.” GameStop stock jumped 6% to 43 in morning trading on the stock market today. The Grapevine, Texas-based retailer earned 68 cents a share, up 15% year over year, on sales of $2.06 billion, up 3%, for the quarter ended May 2. Analysts polled by Thomson Reuters expected GameStop to earn 59 cents a share on sales of $2.01 billion. Same-store sales rose 8.6% in fiscal Q1, compared with 5.8% in the year-earlier period. GameStop said its software sales were helped by hot games like “Mortal Kombat X” from Time Warner ‘s (TWX) Warner Bros. Interactive Entertainment and “Battlefield Hardline” from Electronic Arts (EA). For the current quarter, GameStop expects to earn 23 cents a share,…
Snapchat — the hot tech startup built around creating digital messages and photos that disappear shortly after being sent — is raising $650 million in equity, which would value the company at $16 billion, according to a media report on Friday. Snapchat’s new investors include China e-commerce giant Alibaba Holdings (BABA), along with Fidelity, York Capital and Glade Brook Capital, according to a CNBC report . The social media messaging service has