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Article: Taobao gets real with first shopping town.
- Article from:
- China Business News
- Article date:
- January 6, 2009
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Taobao gets real with first shopping town
Shanghai. January 6. INTERFAX-CHINA - China's largest C2C platform, Taobao.com, has begun construction of a retail park near Hangzhou City in Zhejiang Province, which will serve as a base for employees of the Web site as well as shops run by Taobao users, the company announced on Jan. 3.
"Taobao Town" will cover a 29,970-square meter area of Hangzhou's Yuhang district and will cost Taobao RMB 1.36 billion ($198.93 million) to build, according to the company's announcement. The project will be completed in five years.
"Taobao's 1,700 employees will work out of Taobao Town once it is completed, while the ...