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China launches international competitor eBay

The largest Internet company in China, Alibaba, announced its plans to launch an international version of the Taobao service for the sale of goods. It is expected that it will become a direct competitor to eVy.

According to the CEO of the company Jack Ma, the novelty will support several world languages, among which English will be sure. Access to the service will be open to buyers from all over the world. About when the project will start its work, has not yet been reported.

At the moment, Alibaba already owns the commercial international Aliexpress platform, which specializes in wholesale sales. The Taobao project differs from Aliexpress in that it is intended for retail sales, that is, users will be able to sell products to each other.

The Taobao store can be safely called the key resource of Alibaba. It started its work 11 years ago and managed to oust eBay from the Chinese market. The initial public offering of Alibaba on the exchange this year was very successful: the shares were sold for $ 68 per share and attracted a record $ 21,8 billion for the US stock market.
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