B2b Connections With One Of The Planet’s Biggest Markets

| Total Words: 576

Alibaba.com is a Hong Kong based online business-to-business commerce and auction company that has developed into a substantial resource for both Asian businesses and Western corporations. Originally designed to connect Chinese businessmen with Western buyers, Alibaba manages a bilingual format that both Chinese businessmen and English speaking businesses can use to execute trades.

It is a straightforward wholesale marketplace, where member vendors can display wares and prices. It also operates the premiere Chinese auction site, an Asian version of eBay called TaoBao.com. Alibaba dominates the Chinese ecommerce market and is a major player for some import-export markets on an international scale.

In recent years, the company has aggressively expanded its sophistication and service array. In 2005 Yahoo bought 40% of Alibaba for one billion dollars plus all of Yahoo’s Chinese assets. Alibaba founder and entrepreneur Jack Ma has since then redesigned Yahoo’s Chinese portal and attempted to market it as the definitive Chinese search engine. Alibaba has also developed an online funds transfer system with a Hong Kong bank, attempting to establish a tool...

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