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Article: CORRECTION: Taobao throws down gauntlet to eBay, Amazon and Wal-Mart.(Correction notice)
- Article from:
- China Business News
- Article date:
- July 9, 2008
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CORRECTION: Taobao throws down gauntlet to eBay, Amazon and Wal-Mart
Correction made to turnover figure in paragraph four of story, originally published July 8.
Beijing. July 9. 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 Wal-Mart within 10 years.
To date, Alibaba ...