Wal-Mart Stores Acquires Minority Stake in Chinese E-Commerce Company

Wal-Mart Stores is acquiring an undisclosed stake in the holding company of Yihaodian, a three-year-old e-commerce company in China. Wal-Mart did not say how much it was investing, but that it was a minority stake. Yihaodian specializes in online grocery sales, as well as in categories such as baby, consumer electronics and apparel. Other hot retailers in China are Dangdang, which recently went public, 360buy and Alibaba.com, which is in a heated dispute with its partial owner Yahoo.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work