Many are suggesting that the new app is a response to the meteoric rise of rival mobile e-commerce platform Pinduoduo. The high-flying daily deals platform has amassed an outstanding 300 million active users and 10 billion RMB in monthly GMV (Taobao has 448 million active users). Pinduoduo's mixture of social networking and e-commerce has meshed well with the decision to make it available only via Tencent's WeChat social network.
China has been without centralized regulation of the e-commerce sector since its inception, and the eventual form that the law takes will potentially have serious ramifications for e-commerce companies of all sizes, including the likes of Alibaba Group Holdings (NYSE: BABA) and JD.com.
The move comes as Taobao continues to chip away at transforming its image, both in China and abroad. Founded in 2003, the platform was long known as a "wild west" of counterfeit goods, dubious medical products and fake listings, alongside more traditional individual and small business merchants. Alibaba has been working to align itself and the Taobao platform more closely with the values of the Chinese state.
Ke.com (AKA, Beike Zhaofang 贝壳找房), the open-platform listings site launched by Lianjia (AKA, Homelink) last month, has launched "VR viewing functions," that will allow users to make an interactive 3D viewing of a listed home from anywhere. The new function is backed-up by an in-house team of professional photographers, as well as a collaboration with interactive 3D modeling company, Zhongqu Tech.
Alibaba Group Holding Ltd. (NYSE: BABA) reported better than expected results on Friday, marking two years of continuous quarterly revenue growth above 50 percent, even as new business investments in offline retail, cloud computing and overseas expansion continue to weighed on margins.
China’s largest listings marketplace Taobao and its parent company Alibaba Group Holdings Ltd. (NYSE: BABA) are having their feet held to the fire over a recent promotional campaign that was featured on the front page of Taobao’s “alimama.com” (阿里妈妈) site.
Taobao, the c-to-c marketplace owned by e-commerce giant Alibaba Group Holdings Ltd. (NYSE: BABA), has updated its list of prohibited goods and services to include cryptocurrency-related products. In its latest update, the site has now formally banned individual stores on its platform from providing services related to initial coin offerings (ICOs), such as technological development, marketing, and business proposal writing, among others.
Baixing.com, China’s second-ranked classifieds horizontal after 58.com, has been awarded a national citation for online security by the Ministry of Public Security.
Taobao for retirees will make it easier for seniors to register an account and browse products, delivering an improved user experience, from personalized recommendations to after-sales service, said Ding Jian, the channel’s head of development.
Taobao, the c-to-c and SME-to-c marketplace operated by Chinese ecommerce giant Alibaba Group Holdings Ltd., has been included on the US Trade Representative’s “notorious markets” list for the second year running.