Alibaba: Expanding its grasp on the digital marketplace by connecting first with its overseas Chinese to build on 500m existing users
Taobao is expected to be part of the listing vehicle for an expected initial public offer by Alibaba, which analysts say could value the group at between US$60 billion (S$74 billion) and US$100 billion, prompting comparisons with Facebook’s blockbuster IPO.
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Online retailer Alibaba eyes markets outside China
Source – AsiaOne, published May 10, 2012
HANGZHOU, China – China’s online retail giant Alibaba aims to expand beyond its home market by targeting overseas Chinese through its flagship e-commerce website Taobao, an executive said Friday.
Taobao is China’s most popular e-shopping platform, and has more than 90 per cent of the online market for consumer-to-consumer transactions in the country. It had more than 800 million product listings and over 500 million registered users as of last year.
“We hope to provide services to markets of overseas Chinese consumers first so we can have the experience and ability to further promote Taobao in other markets of non-Chinese consumers,” said Daphne Lee, director of overseas business for Taobao.
Such a move could eventually make Taobao, which marks its 10th anniversary Friday, a threat to US giants eBay and Amazon.
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