By Paul Mozur
BEIJING -- Alibaba Group Holding Ltd. is joining with mobile browser company UCWeb Inc. to introduce a new search service for China's growing number of smartphone users, according to two people familiar with the matter.
UCWeb will maintain a controlling stake in the joint venture, which will be called Shenma Inc., according to one of the people. The new company will include employees who previously worked at Chinese search giant Baidu Inc. (BIDU), as well as Google Inc. (GOOG) , according to the person.
Financial terms weren't immediately clear.
(An expanded version of this report appears on WSJ:com http://online.wsj.com/news/articles/SB10001424052702304163604579528740376284668?mod=mktw.).
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-Paul Mozur; 415-439-6400; AskNewswires@dowjones.com
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04-28-14 0115ETCopyright (c) 2014 Dow Jones & Company, Inc.