Word: ebay
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Dates: during 2000-2009
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...says, is that it gives Alibaba a strong position in four growth segments: business to business, consumer sales, online payments and now, with Yahoo!, search. "When we started Taobao, even our own chief technology officer said, 'Jack, you are crazy. Don't forget eBay.' But we passed eBay in China in just two years." Whitman, for her part, could not have been surprised by Yahoo!'s entrance into China. "Given how quickly the Internet and e-commerce market is exploding in China, you would expect to see a number of players staking claims, which is exactly the case," she told...
...critical importance of eBay's international growth, and of China's piece of that growth, couldn't be clearer. In just a decade, eBay has gone from America's online flea market?purveyor of old 45s, Happy Days lunch boxes and Pez dispensers?to a global powerhouse, with footprints in no fewer than 32 countries. In fact, in the first quarter of 2005, the number of registered eBay users abroad exceeded that at home. According to John Yunker, president of Byte Level Research, "by 2006, and perhaps even by the last quarter of this year, non-U.S. revenue will...
...some time, it was simply a given that eBay would take China by storm as the online marketplace exploded, that it would be, as Bear Stearns analyst Robert Peck puts it, a "layup." In 1999, Shao Yibo, a Harvard Business School graduate, started EachNet, an e-commerce company, in China. Shao's site openly aped eBay in style and content, effectively screaming "buy me" at the San Jose, California, giant. In 2002 eBay complied, paying $30 million for a third of the company and taking the rest for an additional $150 million the following year. This, arguably, was a hefty...
...eBay's dominance of the next great e-commerce market has turned out to be anything but a layup. Even before the massive capital infusion from Yahoo!, Alibaba-Taobao was making life unexpectedly difficult for Whitman & Co. Ma, 40, is an English teacher turned Internet pioneer in China, where he started a company that provided basic information about Chinese industrial companies on the Web back in the mid-1990s. In 1999, he launched Alibaba, a business-to-business site that became profitable in 2002 and last year did about $70 million in sales. In 2003, he started Taobao?"searching...
Believe it. According to Alexa.com, a market-research site that tracks e-commerce, Taobao has surged in front of eBay by a variety of measurements. As of Aug. 1, Taobao was reaching 15,800 out of every 1 million Internet users, compared with just under 10,000 for eBay China. The number of page views per user?a measure of interest in the site?was 10.7 for Taobao vs. 7.4 for eBay. Most analysts agree that GMV is also a reasonable standard of performance. In the first quarter of this year, Taobao announced $120 million GMV vs. $90 million...