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Taobao earmarks 300m yuan for app developers
By Ding Yining |
February 23, 2011, Wednesday
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Online Edition
Online Edition
CHINA'S largest online shopping platform, Taobao.com, said today it will invest 300 million yuan (US$45 million) over the next three years to support third party software and service providers.
Since the open platform was launched in late 2009, Taobao has attracted 110,000 partners. Applications have covered areas from logistics to warehouse management, wireless service and customer service. Income from these applications stood at 16.5 million yuan in 2010.
"We will encourage service providers by giving them subsidies and investment. Taobao will step back to give them more development space," said Zhang Yong, chief financial officer of Taobao.
"We will focus on large and middle-sized service providers and Taobao will take 30 percent of their profits, leaving 70 percent for application developers," said Wang Wenbin, vice president of Taobao.
Since the open platform was launched in late 2009, Taobao has attracted 110,000 partners. Applications have covered areas from logistics to warehouse management, wireless service and customer service. Income from these applications stood at 16.5 million yuan in 2010.
"We will encourage service providers by giving them subsidies and investment. Taobao will step back to give them more development space," said Zhang Yong, chief financial officer of Taobao.
"We will focus on large and middle-sized service providers and Taobao will take 30 percent of their profits, leaving 70 percent for application developers," said Wang Wenbin, vice president of Taobao.
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