BEIJING - Alibaba Group has merged two of its fastest-growing divisions, digital advertising exchange service Alimama and consumer-based auction platform Taobao.com.
In a statement, group chairman Jack Ma (pictured) said consolidating the platforms' operations will better attract sellers and provide consumers with more options, further advancing the Alibaba name brand.
The move comes after Alibaba posted stellar second-quarter earnings, which includes a 159 percent rise in net profit.
Five-year-old Taobao claims that RMB 300 million (US$43.8) is traded on its site daily and from 80 million registered accounts, up from 72 million in June. Meanwhile, Alimama, which launched, claims 3 billion total page views and works with 400,000 small- and medium-sized websites. However, media buyers have argued that Alimama has yet to have a significant impact on the Chinese ad networks operated by Google and Baidu.
Friday, September 5, 2008
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