E-House, a real estate services provider, agreed to acquire a majority stake in Leju Holdings, an e-commerce and online media platform for real estate and home furnishing industries in China, from Xin Zhou and SINA for $293m. "The cooperation between E-House and Alibaba is not only a key milestone in E-House's and Leju's development, but also a significant event in China's real estate service industry. In the process of collaborating with E-House and Alibaba to build an online real estate marketing and transaction platform, Leju will leverage its experience in online marketing and transaction service and become the service provider for digital marketing and operation on the platform. This will greatly enhance Leju's core value and competitiveness," Xin Zhou, Leju Chairman.