Monday, 24 November 2014

Alibaba To Launch International Taobao



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.
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 BABA are no surprise to the ana
lysts.
Talking about the IPO of the company, Alibaba has taken Wall Street by storm by posting record breaking IPO. Hence it 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. 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.”
In the end, 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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