BEIJING - Google is said to be entering China's e-commerce market following the purchase of a domain that may be used as a consumer-to-consumer platform, according to Chinese reports.
According to some resources, Google has bought the domain Baobei.com for US$1 million and may go live with the C2C site within the next few months. I am waiting to hear this news from some credible sources or maybe from Google itself. So it is still a rumor. Whois for the domain doesn't confirm Google as authority. Follow this b2b trade blog for latest on this news.
The news follows a string of initiatives announced by other Chinese e-commerce powerhouses to combat the decline of online purchases in light of the current economic climate.
Among these initiatives is business-to-business platform Alibaba.com’s plan to provide low-interest loans to registered SMEs through a partnership with eight banks across the country. Search engine Baidu, meanwhile, has extended its new auction platform to Japanese sellers looking to do business in China.
This will be Google’s first entry into China e-commerce market and will directly pit the search engine against Alibaba’s C2C-industry-leader Taobao.com and Baidu’s newer Youa.
Tuesday, February 10, 2009
Google bought US$ 1 Million domain name to enter into China's e-commerce market
Tuesday, February 10, 2009
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1 comments:
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