Monday, 10th May 2010
In Business In Japan,
Yahoo! Japan teams up with Chinese retailer
Chinese online retailer Taobao has announced it is to join forces with Yahoo! Japan in a move which will see the two firms sell into each others' markets.
Under the plan, the two companies will come up with online platforms to allow each other to utilise the other's market share, with Yahoo! Japan Shopping now set to offer 50 million Chinese products carried by Taobao.
Taobao will sell eight million Japanese products on its sites.
Reporting on the news, the Financial Times noted that the move could be seen as a sign that "cross-border tie ups" between Asian internet firms are increasingly in use.
Masayoshi Son, Yahoo! Japan's chairman, said: "Now I can say that the internet development countries are in Asia. Together when we join strengths, we will be able to beat eBay in transaction volume."
Taobao is an online shopping and internet auction site that has a large share of the Chinese market.
Written by Mark Smith.
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