Google Takes Stake In

googlecn1.pngGoogle has acquired a stake in Chinese social portal offers a variety of services including user blogs, classifieds, photo hosting, news, sports news and University information. The site is ranked as the 63rd most popular website in China according to Alexa.

As reported August 17, Google stated its intention to acquire 1 or 2 China focused internet companies and invest in 5 over the next 12 months. The investment in would appear to be the first of those 5 investments. The percentage of Tianya acquired by Google, or the price of the purchase was not disclosed, although it is believed the stake could be as high as 60%

(via Reuters)