China's Alibaba has made quite the acquisition by purchasing one of the most popular Android app stores in the region — Wandoujia. While the actual cost of the purchase remains secret, local media in China believe it to be around $200 million. As TechCrunch notes, this is an interesting estimation especially given Wandoujia was valued at more than $1 billion back in January 2014.
From the TechnCrunch report:
"Wandoujia was reportedly valued at more than $1 billion in January 2014 when it landed a $120 million funding round led by SoftBank, however increased competition from carrier-run app stores and rivals like 91 Wireless and Qihoo 360, not to mention reports of internal conflict, appear to have impacted its development over the past two years."
While Google's own services (and app store) remain blocked in China, local companies such as Wandoujia are able to enter into a competitive battle with one another for dominance over apps and games for Android. Wandoujia will now join UC Web as part of Alibaba's mobile-focused portfolio.