Yahoo has pulled out of the Chinese market, the company said on Tuesday.
The company’s official statement said it stopped providing services for users in mainland China as of November 1 due to the “challenging legal environment”. "Yahoo remains committed to the rights of our users and a free and open internet. We thank our users for their support", the statement noted.
Yahoo’s withdrawal follows Microsoft’s (NASDAQ: MSFT) decision to shut down the Chinese version of LinkedIn in mid-October and replace it with a job board called InJobs.
The Chinese government’s crackdown on the IT sector has been detrimental to the country’s business environment. Many companies have been affected by government pressure.
