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You know a company is interested in an emerging market when they spend a billion dollars for less than a 1/2 stake in company.

That’s what Yahoo! did.  They spent $1 billion for a 40% stake in Alibaba – China’s largest e-commerce company.  Under the deal Alibaba would take over and run Yahoo!s Chinese operations and Yahoo! would get the 40% stake in the company.

In other Yahoo! news, the company announced some new webmaster tools at Search Engine Strategies.  Found at http://sitexplorer.search.yahoo.com, the tool will help webmasters see more details about their index status.  Unfortunately the tool doesn’t seem to be running yet so we weren’t able to give it a good look.

AOL has started a new contest you might be interested.  If you go to this site you can enter to win a Hummer.  But wait, it gets better.  The Hummer is one of the proceeds AOL got when they successfully sued a spammer and won.  The Hummer along with cash and gold have been awarded to AOL in settlement for the spam lawsuits.

Answers.com is partnering with the makers of the Opera Browser to offer integrated Answers inside the browser.

Amazon has settled a patent dispute.  The company agreed to pay $40 million to Soverain LLC to settle a dispute regarding several Soverain patents on network sales systems and Internet server access control and monitoring systems.

According to Hitwise, Google still dominates in search.  While Google Yahoo! and MSN account for over 90% of all searhes, Google actually accounts for almost 60% of all search traffic.  This despite the fact that MSN and Yahoo! both have portals that act as landing pages and starting points for many internet users.

Well that’s about all the news today – be sure to check back tomorrow!