New York (CNN Business)Yahoo has shut down access to its services in China, becoming the latest American tech company to exit the country.
It pulled the plug “in recognition of the increasingly challenging business and legal environment,” a Yahoo spokesperson said in a statement. “Yahoo remains committed to the rights of our users and a free and open internet. We thank our users for their support.”
Access to many of Yahoo’s features in China have disappeared since 2013, including email and news. In 2015, Yahoo closed its Beijing office and eliminated roughly 300 jobs.
Yahoo, which was recently bought by Apollo Global Management, joins Microsoft’s (MSFT) LinkedIn social network, which announced last month that it would leave China because of a “significantly more challenging operating environment and greater compliance requirements in China.”Read MoreOperating in China has long posed numerous challenges for private companies, but Chinese President Xi Jinping has orchestrated a sweeping regulatory crackdown on the tech, education, gaming and entertainment industries in recent months that has wiped a huge amount of market value off China’s biggest firms.
Source: edition.cnn.com
