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Chinese e-commerce company Alibaba.com has announced plans to invest CNY 50bn ($732m) in its consumer auction site Taobao over the next five years. Taobao was founded in 2003, and is China's largest consumer-to-consumer auction site. It has 80 million registered users and over 1 million sellers.
Taobao, an e-commerce company, has announced that its parent company, Alibaba Group, will invest RMB5 billion over the next five years to further strengthen the Taobao marketplace.
By Davis, Anita BEIJING Chinese search engine Baidu has begun closed beta tests of an e-commerce site that the company hopes will directly rival market powerhouse Alibaba.
Alibaba.com, the top Chinese e-commerce firm, posted a 159 percent rise in net profit in the second quarter thanks to interest income from IPO proceeds, but its prospects are darkening as global woes cause small and midsize firms to cut spending.
New "Export-to-China" Service to Tap China's Growing Buying Power HANGZHOU, China, Aug.
China-based B2B e-commerce provider Alibaba has announced plans to invest CNY 2 billion ($292m) to expand its online auction unit Taobao.com. The company said it is building out Taobao.com to become an advanced C2C business.
Top Chinese online site to see transactions top 100 billion yuan in 2008 HAHGZHOU, June 16 (Xinhua) -- Taobao, Alibaba's online consumer website, expects its transaction volume to surpass 100 billion yuan (14.4 billion U.S.
BEIJING and MENLO PARK, Calif., March 19 /PRNewswire/ -- Northern Light Venture Capital (NLVC), a China-focused venture capital firm, today announced the appointment of John Wu as venture partner. Mr.
Online auctioneer eBay Inc. said on Monday it expects its China transaction volume to jump 30 percent or more in 2005, amid an aggressive expansion including a local launch of its PayPal online payment service.