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News July 2008

Alibaba Group Invests RMB2 bn in Taobao.com

By Wayven Pienaar, on 08-07-2008 15:19

Published in : The News, News July 2008

Taobao.com has cornered a RMB2 bn investment from China’s number one e-commerce firm Alibaba Group.

The group said in a statement that the aim of the investment is to assist Taobao.com in building an advanced online C2C business chain, which they expect will outdo Ebay.com and Amazon.com in five years in trading capacity.

Taobao.com currently boasts 67 million registered customers and 10 million clicks per day.