President and Chief Executive Officer of Alibaba group Jack Ma narrates in VIII Netrepreneur Summit of Hangzhou, Zhejiang Province in September 10, 2011.
Credit: Reuters/Steven ShiHANGZHOU, China | Saturday September 10, 2011 06:58 EST
HANGZHOU, China (Reuters)-Alibaba Group Chairman Jack Ma of China said on Saturday he was not the reason for the departure of Chief Executive of Yahoo Inc.
Yahoo, which owns about 40 percent of Alibaba group, fired its Chief Executive Carol Bartz on Wednesday ends a tumultuous tenure which saw the relationship between Yahoo and Alibaba fray precipitously.
MA said the annual meeting of entrepreneurs that contrary to popular belief, it was not the reason for the departure of CEO of Yahoo.
"Over the past two days, the CEO of Yahoo was fired, but had nothing to do with me," Ma said at the beginning of his speech.
MA and Bartz had a difficult relationship exacerbated by Ma's desire to buy Yahoo's game back in his company and Yahoo's unwillingness to sell.
In may, Yahoo announced that it had known that Ma had spun-off its e-payment unit, Alipay, a company wholly owned by Ma. Alibaba sacrifi saying Yahoo was well aware of the transfer of Alipay and that he had done so to comply with national laws.
The two sides and Softbank Corp. settled the matter in late July.
Alibaba recently made inroads in mobile search, and logistics to enhance your different e-commerce platforms.
MA said that Alibaba is targeting the 1 trillion yuan (US $ $157 billion) in transaction value next year on their platform of Taobao.
On Friday, Alibaba said it will launch an English version of its mobile operating system, Aliyun, sometime this month and a Tablet PC running on this platform within the next two months.
"When I hear the word I get very excited," said Ma.
Ma "I decided to enter in search so that Baidu can not sleep at night," he said, adding that a monopolistic market without competition is ultimately harmful to the user.
Alibaba group released Etao last year as a search engine for e-commerce-focused. Baidu Inc is China's biggest search engine, with more than 80% of search market for traffic.
Alibaba group is the parent company of Alibaba.com, Taobao Mall, Taobao.com, Etao and Alibaba Cloud Computing. (US $ 1 = Chinese Yuan 6,384)
(Reports by Melanie Lee; Edited by)
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