China, Japan launch Asian eBay rival

Jun 01, 2010
A woman in Beijing shops online at the Taobao website in 2008. China's largest retail website Taobao and Yahoo! Japan have launched a joint service in a deal expected to create the world's biggest online marketplace by harnessing Asia's surging ranks of e-consumers.

China's largest retail website Taobao and Yahoo! Japan launched a joint service Tuesday in a deal expected to create the world's biggest online marketplace by harnessing Asia's surging ranks of e-consumers.

The service is expected to dwarf US rival eBay in terms of users and products on offer, attracting 250 million customers and offering 450 million products.

"This marks the birth of the world's largest e-commerce market," Masayoshi Son, chairman of Yahoo! Japan and CEO of mobile phone carrier Softbank, told a packed hall in a Tokyo hotel.

Online stores on will be able to offer products from China to Japanese consumers at Yahoo! Japan's China Mall, the companies said.

The new services will allow Internet users in both countries to buy and sell using systems and procedures that are familiar to them in their native languages, one of the biggest hurdles to doing business in either country.

The combined number of users on the new service is expected to eclipse the 90 million active users at US online marketplace , which last year sold goods valued at 60 billion dollars.

Son is banking on Asia's exploding number of Internet users which he expects will account for 50 percent of the web in five years, compared to just 19 percent a decade ago.

He added that he expects the number of American users to fall to 12 percent of the global share.

Taobao is a subsidiary of Chinese e-commerce giant Group. Both SoftBank and US Internet company Yahoo! are shareholders in Alibaba.

Alibaba Group's Hong Kong-listed subsidiary Alibaba.com already has a joint venture with SoftBank called Alibaba.com Japan.

The cooperation with Yahoo! Japan is the latest effort by the Alibaba Group to expand in overseas markets.

Last month, its wholesale website Alibaba.com announced a new platform, AliExpress, allowing payments from users of US online payment service PayPal.

Online shopping in China has boomed in recent years, as the nation's more than 400 million Internet users -- the world's biggest online population -- become increasingly web-savvy.

Baidu, China's top search engine in terms of market share, said in January it would set up a joint venture with Japanese retail website Rakuten to launch a shopping mall targeting domestic web users in the second half of 2010.

Explore further: Twitter takes note of other apps on smartphones

add to favorites email to friend print save as pdf

Related Stories

Chinese retail site, Yahoo! Japan unveil deal

May 10, 2010

China's largest retail website Taobao and Yahoo! Japan on Monday announced a new partnership aimed at increasing online shopping options for consumers in the world's number two and three economies.

China's Alibaba teams up with US PayPal

Apr 27, 2010

Chinese e-commerce firm Alibaba said Tuesday its new transaction platform would accept payments from users of US online payment service PayPal, amid efforts to expand overseas.

Yahoo! move will impact China's e-commerce

Aug 11, 2005

Plans by Yahoo! to invest $1 billion for a 35-percent to 40-percent stake in Chinese B2B and auction firm Alibaba.com will change the competitive landscape in China's e-commerce market, analysts told United Press International. ...

Recommended for you

UN moves to strengthen digital privacy (Update)

Nov 25, 2014

The United Nations on Tuesday adopted a resolution on protecting digital privacy that for the first time urged governments to offer redress to citizens targeted by mass surveillance.

Spotify turns up volume as losses fall

Nov 25, 2014

The world's biggest music streaming service, Spotify, announced Tuesday its revenue grew by 74 percent in 2013 while net losses shrank by one third, in a year of spectacular expansion.

Virtual money and user's identity

Nov 25, 2014

Bitcoin is the new money: minted and exchanged on the Internet. Faster and cheaper than a bank, the service is attracting attention from all over the world. But a big question remains: are the transactions ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.