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Taobao to Invest RMB 1.36 Bln in Taobao City

Netease Tech, 12/31/08

Chinese B2C and C2C e-commerce platform Taobao has announced that its Taobao City project has begun construction in Hangzhou. Over the next 5 years, Taobao plans to invest RMB 1.36 bln to construct the Taobao City, which will act as a hub for its e-commerce business including R&D, customer service, website operation, sales, technical support, training and other services.

Funding for the project comes from part of the RMB 5 bln that Taobao received from parent company Alibaba for strategic development over the next 5 years.

Keywords: strategy Alibaba B2C C2C e-commerce Internet R&D Taobao

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