Originally published on Sat September 20, 2014 11:16 am
Yahoo has made a number of bad bets in its up-and-down history. But the decision to buy a $1 billion stake in the Chinese e-commerce company Alibaba was hands down a winner.
Alibaba's successful IPO — its stock shot up 38 percent on the first day of trading Friday — will give Yahoo around $8 billion in return. But it was a masterful move, almost a decade ago, that made this mega-payday possible.