Alibaba
is one of the fastest growing businesses in the world. The company is also the largest
B2B business company in the world. Moreover, it has achieved so much in a short
span of time that it is known as the Google of China. The business of Alibaba
is massive and they take on every single opportunity in their way. This is the
reason as to why over 120 million people shop on Alibaba sites every day. It is
known that Alibaba owns and operates its three main business sites which are
Taobao.com, Tmall.com and Alibaba.com. These sites are the version of EBay for
the booming Chinese market.
Source Image : Bloom berg
Cnet.com
reported that the Chinese e-commerce giant Alibaba has recently taken Wal-Mart
by storm and it has further planned to mark its presence in other markets.
Therefore, Alibaba taps Taobao for international expansion. Jack Ma has said
that the consumer-to-consumer marketplace will be available worldwide in
multiple languages.
Reuters
reported that Alibaba co-founder Jack Ma said Thursday the company plans to
create an international version of its online marketplace Taobao. The plan is
to serve shoppers worldwide and be available in multiple languages, including
English. However it is still not known that when will the international launch
will take place. After raising a record breaking $21.8 billion in US initial
public offering (IPO), something like this was expected from company’s side.
Hence, expansion plans of Alibaba are no surprise to the analysts. Moreover,
those funds were majorly used to grow and expand its operations overseas. The
company is now a great threat to the e-commerce leaders in the market, Amazon
and EBay.
According
to the company, it is believed that “Taobao is a crucial component in Alibaba's
operation. Launched in 2003 in China, Taobao is a consumer-to-consumer
marketplace similar to eBay -- the site actually managed to push eBay out of
business in China.”
Hence
in a nutshell, the international expansion plans for Taobao will prove to be
beneficial for the company as it will open the doors of international market
for the company in the future.
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