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Hong Kong, China, 08/12/2005 – The e-commerce, online payments, search and B2B / B2C "war" just took another turn with this recent announcement.
In March 1999, Jack Ma and his team founders created Alibaba.com in Hangzhou, China. Since that time, Alibaba.com has grown to become China’s largest e-commerce B2B / B2C company.
From online payments to escrow service AliPay™, a division of Alibaba.com, enables businesses and individuals to securely send and receive payments online. AliPay escrow service is also simple to use – after a buyer commits to a transaction online, his payment is held in an AliPay™ account until he has received the product ordered. After receiving the product, they buyer notifies AliPay™ and the payment is then forwarded on to the seller.
Yahoo! and Alibaba.com recent strategic partmership agreement will result in one of the largest Chinese Internet companies with a leading position in the key sectors of B2B consumer, e-commerce, online payments, communications and search.
Source Alibaba.com
About Yahoo!®
When Yahoo! was founded in 1994 by Stanford Ph.D. students, David Filo and Jerry Yang, it began as their hobby and has evolved into a global brand that has changed the way people communicate with each other, find and access information, and make purchases. Today, Yahoo! Inc. is the Internet's leading global consumer and business services company, offering a comprehensive network of essential services for Web users around the globe as well as businesses of all sizes. As the first online navigational guide to the Web, Yahoo! (yahoo.com) is the leader in traffic, advertising, household and business user reach. Yahoo! is also the most recognized and valuable Internet brand globally, reaching over 345 million unique users in 25 countries and 13 languages.
About Alibaba®
Alibaba China is China's largest online marketplace for domestic trade among businesspeople. With more than 6 million registered users, Alibaba China is a trusted community of members who regularly meet, chat, search for products and do business online. Customers pay an annual subscription fee for membership, which entitles them to post trade offers and products online.
All product names and trademarks belong to their respective owners.
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