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Article: Alibaba Group Makes RMB5 Billion Investment in Taobao.
- Article from:
- PR Newswire
- Article date:
- October 8, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. 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)
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Taobao Continues to Offer Free Service to Users
BEIJING, Oct. 8 /Xinhua-PRNewswire/ -- Taobao, China's largest consumer e- commerce company, today announced that its parent company, Alibaba Group, will invest RMB5 billion (US$732 million*) over the next five years to further strengthen the Taobao marketplace ( http://www.taobao.com/ ) as the shopping destination of choice for Chinese consumers. The investment will be used for building a world-leading platform for merchants and providing the best online shopping experience for consumers. In addition, Taobao will continue to offer its services for free to buyers and individual sellers.
* Using exchange ...