Alibaba Q1 profit up
By Ding Yining |
May 13, 2011, Friday
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Print Edition
Print Edition
ALIBABA.COM, the business-to-business unit of Alibaba Group, yesterday said profit in the first quarter grew 37 percent from a year ago to 453 million yuan (US$70 million).
Registered users hit 65 million by the end of March while paying members rose 26 percent to more than 110,000, it said in a statement.
It will also step up efforts to detect fraud cases to ensure supplier credibility after two executives resigned earlier this year for failing to monitor fraudulent activities by some of its sellers.
Registered users hit 65 million by the end of March while paying members rose 26 percent to more than 110,000, it said in a statement.
It will also step up efforts to detect fraud cases to ensure supplier credibility after two executives resigned earlier this year for failing to monitor fraudulent activities by some of its sellers.
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