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September 1, 2017

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Olympic gold for Alibaba

Source: Shanghai Daily | 00:01 UTC+8 September 1, 2017 | Print Edition

Thomas Bach, president of the International Olympic Committee, has visited the headquarters of Alibaba Group, the world鈥檚 largest e-commerce company, in Hangzhou.

Alibaba founder Jack Ma said Alibaba will help the IOC reduce operating costs through new technologies.

鈥淲e will also accelerate the innovation at the Olympic Games with big data so that more young people can participate,鈥 Ma said after meeting Bach.

In January, Alibaba became a leading sponsor of the summer and winter Olympics until 2028, signing an 11-year partnership agreement with the IOC. The company also became a partner of the Olympic Channel, a digital TV service promoting the games to younger sports fans worldwide.

Alibaba is the first Chinese company to sign a three-term sponsorship deal with the IOC.

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