Taobao

Taobao (Chinese淘 宝, Pinyin táobǎo ) is an online auction house. It was founded in 2003 by Jack Ma and belongs to the Chinese Alibaba Group.

With 39.9 million registered users, it is the largest Internet auction platform in Asia. At the auction portal, the online payment system Alipay is connected.

According to Alibaba CEO Ma Yun Taobao recorded in 2006, a transaction volume of 16.9 billion yuan, in 2005 it was still a volume of 9.7 billion yuan. In China, the page has a market share of around 70%. In 2008, Taobao wanted to expand internationally and catch up with the world leader eBay.