Temat: 1688.com - Alibaba to Launch New Online Wholesale Site

1688.com - Alibaba to Launch New Online Wholesale Site

HANGZHOU, Feb 10, 2010 (SinoCast Daily Business Beat via COMTEX) --
Alibaba Group will launch 1688.com, an online wholesale Web site, on March 1, 2010.

The e-commerce service provider lately acquired the domain name of the new business. Notably, the ticker symbol of Alibaba.com Ltd. (SEHK: 1688), the B2B service provider under the aegis of Alibaba, is also 1688.

In the future, Taobao.com, also under the aegis of Alibaba, will focus on online shopping, while 1688.com will be engaged in providing online wholesale service, according to the information released by the latter.

Hu Ge, an amateur director of online videos, has made an advertisement for the promotion of 1688.com, inviting Han Han, best-selling author and popular blogger to play a role in the movie.

1688.com will reportedly not charge vendors for opening virtual stores on its platform. Meanwhile, Alibaba plans to put CNY 100 million in mainstream media like CCTV for the promotion of the site.

Prepaid phone cards and cash bonus will also be granted to Internet users who post articles to participate in the online discussion for the launch of 1688.com.

Source: news.ccidnet.com (February 10, 2010)

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