Alibaba Group, Yahoo! Inc and Softbank reached agreement over the controversial transfer of Alipay to a company controlled by Jack Ma, the founder and CEO of Alibaba. Also, according to the agreement, Alipay will continue to provide payment processing services to Alibaba Group and its subsidiaries including Taobao. The deal ends a public dispute among Yahoo, Softbank and Alibaba over Yahoo’s accusation of Jack Ma “stealthily transferring” Alipay to an entity owned by Jack Ma without notifying other shareholders. Alibaba Group and its management team have an impressive track record of value creation and we look forward to participating in Alibaba Group’s—and Alipay’s—continued success.” While Jack Ma remarked that “this agreement is good for Alibaba Group and its stakeholders, including customers, employees and shareholders.