|
|
Article: Taobao throws down gauntlet to eBay, Amazon and Wal-Mart.
- Article from:
- China Business News
- Article date:
- July 8, 2008
CopyrightCOPYRIGHT 2008 Gale acknowledges Publisher's copyright in the text of the Publication and shall place users of that text on notice of that copyright interest. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Taobao throws down gauntlet to eBay, Amazon and Wal-Mart
Beijing. July 8. INTERFAX-CHINA - Alibaba Group aims to make Taobao.com, its C2C (customer-to-customer) online trading platform, the world's biggest retailer and will invest RMB 2 billion ($291.64 million) in the Web site over the next five years, the group announced on July 5, its fifth anniversary.
Jack Ma, founder of Alibaba Group, said he hopes Taobao will surpass eBay and Amazon by global revenue within five years, and surpass Walmart within 10 years.
To date, Alibaba Group has invested a total of RMB 3.45 billion ($503.13 million) in ...