[WorldKings – World Almanac Event 2020] 17th year anniversary of founding Taobao, Chinese online shopping website (May 10, 2003 – May 10, 2020)

10-05-2020

(WordKings.org) 17th year anniversary of founding Taobao, Chinese online shopping website (10/05/2003 – 10/05/2020)

 

On May 10, 2003, a group of companies by the name of the Alibaba Group, got together and created a Chinese online shopping site referred to as the Taobao Marketplace (Taobao).

 

 

 

This is a marketplace that is quite similar to Amazon, eBay, or even Buy.com. However, the major difference between this site and many of the others that are based in the United States is, that this site specifically caters to entrepreneurs and small business owners in mainland China, Taiwan, Macau, and Hong Kong. It is the world's biggest e-commerce website and the eighth most visited website according to Alexa. 

 

 

Taobao offered free listings to sellers and introduced website features designed to act in local consumers' best interests, such as instant messaging for facilitating buyer-seller communication and an escrow-based payment tool, Alipay.

 

 

As a result, Taobao became mainland China's undisputed market leader within two years. Its market share surged from 8% to 59% between 2003 and 2005, while eBay China plunged from 79% to 36%. EBay shut down its China site in 2006.

 

 

In April 2008, Taobao introduced a newly dedicated B2C platform called Taobao Mall to complement its C2C marketplace. Taobao Mall established itself as the destination for quality brand name goods for Chinese consumers.

Taobao Mall launched an independent web domain, Tmall.com, and enhanced its focus on product verticals and improvements in shopping experience in November 2010.

 

 

It became an independent business in June 2011 and changed its Chinese name to Tian Mao (Tmall) in January 2012. As of October 2013 it was the eighth most visited web site in China.

 

According to en.wikipedia


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