Alibaba and Softbank launch partnership
By Staff Reporter |
May 11, 2010, Tuesday
|
Print Edition
Print Edition
CHINA'S Alibaba Group and Japan's Softbank Corp yesterday launched a strategic partnership for the first cross-border online trading platform in Asia.
"The new platform based on the partnership of the two strongest Internet companies in both countries will surpass eBay to become the biggest online trading platform around the globe," said Masayoshi Son, president and chairman of the board of Softbank Corp.
The combined C2C online trading platform will have 250 million registered users and 450 million products. It will help Japanese vendors sell their products to Chinese consumers, and Chinese firms will be able to serve Japanese consumers.
"It will be a very important opportunity for small and medium businesses in the two countries to expand distribution channels and online trading will continue to be a very strong contributor to the Asian economy," Son said.
"Asia will have 2.6 billion Internet users by 2015, around half of the global user base, which makes it the most important market for Internet companies," he noted.
Vendors who aim to sell on the new platform will go through a screening process and will be subject to Customs regulations in the two countries. Buyers may pay extra fees for logistics if they purchase goods from overseas vendors. The companies will release details in early June.
"Alibaba hopes cross-border trading will be as convenient as domestic trading," said its chairman and CEO Ma Yun.
Taobao.com and Yahoo Japan will each launch a new sub-section next month to provide Chinese users with Japanese products and Yahoo Japan's users will get access to Chinese products on Taobao.com.
Softbank is the controlling shareholder of Yahoo Japan and the second-biggest shareholder of Alibaba Group.
"The new platform based on the partnership of the two strongest Internet companies in both countries will surpass eBay to become the biggest online trading platform around the globe," said Masayoshi Son, president and chairman of the board of Softbank Corp.
The combined C2C online trading platform will have 250 million registered users and 450 million products. It will help Japanese vendors sell their products to Chinese consumers, and Chinese firms will be able to serve Japanese consumers.
"It will be a very important opportunity for small and medium businesses in the two countries to expand distribution channels and online trading will continue to be a very strong contributor to the Asian economy," Son said.
"Asia will have 2.6 billion Internet users by 2015, around half of the global user base, which makes it the most important market for Internet companies," he noted.
Vendors who aim to sell on the new platform will go through a screening process and will be subject to Customs regulations in the two countries. Buyers may pay extra fees for logistics if they purchase goods from overseas vendors. The companies will release details in early June.
"Alibaba hopes cross-border trading will be as convenient as domestic trading," said its chairman and CEO Ma Yun.
Taobao.com and Yahoo Japan will each launch a new sub-section next month to provide Chinese users with Japanese products and Yahoo Japan's users will get access to Chinese products on Taobao.com.
Softbank is the controlling shareholder of Yahoo Japan and the second-biggest shareholder of Alibaba Group.
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