Aibaba's new mama
Internet Marketing, E-commerce
20 November 2007
Alibaba, the Chinese e- commerce company, has moved into selling online adverts with the launch of a new site, Alimama.
The new site has been running as a trial since August 10th and will offer a platform for online advertisers from small and medium sized businesses.
Reports from XFN Asia confirmed the move and revealed the parent company is ploughing money into the venture.
"Earlier Alibaba Group said it plans to invest 10 billion Yuan (£650,000) to integrate its six businesses, including Alimama.com," the news channel has reported.
Alimama.com is based in the Wanchai district in Hong Kong and is a further example of how the Chinese internet advertising market is developing.
Earlier this month Alibaba.com made its debut on the Hong Kong stock market. The Associated Press reported that while its share price nearly tripled, the figure overvalued the company.
Analysts said the rise was "unsustainable, and that speculators were driving up the price in order to maximise profits".
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