Sina Tech, 8/16/11
Taobao Alliance, the affiliate advertising program of Chinese B2C and C2C e-commerce company Taobao, today announced a RMB 2 bln investment plan aimed at small and mid-sized websites, with RMB 1.5 bln allotted for Taobao merchants and the remaining RMB 500 mln set aside for external e-commerce sites that belong to Taobao Union and are covered by Taobao's Etao.com e-commerce search engine.
Wang Weiyi, general manager of Taobao Alliance, said the program is aimed at funding the growth of both popular and new websites. In addition to the RMB 2 bln in funds, Taobao Union will launch a contest to determine the best website administrators and Taobao customers.
Taobao Alliance currently drives RMB 37 mln in daily transaction volume to Taobao merchants, generating over RMB 3.5 mln in revenue share for participating websites.