Ambition of China's eBay

By A Bisht

With china having a Chinese version of everything, how can it doesn't have its own version of Ebay., an auction and retail site, is nicknamed "China's eBay". The company with few users outside China, wants 1 billion global users shopping on the site in the next 10 years. One billion users is equivalent to one-seventh of the world's population.

Some numbers regarding Taobao:

Current average number of shoppers Taobao gets each day ______25 million shoppers each day, said Ma.

Taobao, charges no transaction or item posting fees,has reported a inflating transaction volume of 80.9 billion yuan (US$11.8 billion) in the first half of the year.

Most of Taobao's revenue comes from from advertising. --------