Alibaba's Hangzhou campus. Photo: Wikimedia Commons

Chinese e-commerce giant Alibaba has bought into the largest out-of-home advertising network in China, Focus Media, in a 15 billion yuan (US$2.23 billion) deal, The Paper reported.

Following the investment, Alibaba and related parties will hold a 10.33% stake in Focus Media, making it the second largest shareholder of the advertiser.

Meanwhile, MMHL, a company indirectly held by Focus Media CEO Jiang Nanchun, continues to be the company’s largest shareholder.

With Alibaba’s new retail infrastructure and big data analysis capacity, the two companies will jointly explore new digital marketing models and create a smart media network for urban life.

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