This ranking has been higher than large-scale information like CCTV network, msn Chinese. Word-of-mouth network has also broke the history record for life service e-commerce platforms they represents. The industry insiders said that incresed ranking for these life service site mapped out the warmer domestic economy as well as people’s rising living consumptions.

Communication Director of Yahoo Word-of-mouth,Wang Tong, introduced that at the peak of the financial crisis last year, especially in the lowest real estate market, users of real estate platform also appeared to have divised concerns for information: attention for the new properties, second-hand housing information decreased near 20%, while concerns for rental information maintained the at the high point, a large number of houses backloged for sale and even entered the rental market. “By the end of last year, information about the rental on Yahoo’s Word-of-mouth daily updated more than 1.3 million pieces.”

Alibaba released the news after the first quarter financial report was disclosed. Today its announced financial reports indicated that its revenue for the first quarter was 806,600,000 yuan which was increased by 18.6% from last year’s 680,100,000 yuan;net profit was 253.4 million yuan with a decrease of 15.7 percent for the same period of last year’s 300.7 million yuan.

Ma Yun said that Alibaba’s achievements showed its value, vision and commitment to the mission. “Alibaba has been focusing on the customer’s position, and in the economic winter, our most important task is to help our small and medium enterprises survive the winter.” said Ma Yun.

Wei Zhe, CEO of Alibaba said Alibaba’s achievements proved that the decisions of the company investors to help them achieve the business objectives were correct, and this will bring the win-win-win of worldwide buyers, sellers and Alibaba.
　　
Alibaba’s financial report indicated that when in the world economic recession, more companies made greater use of e-commerce to reduce costs and improve efficiency: As of March 31, 2009, Alibaba’s international and domestic transactions markets had a total of almost 40.3 million registered users, representing a 36 percent increase over the same period last year, and a growth of 6% than that at the end of the previous quarter.

However, the rapid development of the industry is accompanied by “crisis of confidence” issue, because the disputes are arising from the increasing trend of major disputes generated by the lack of good credibility.

Now, to the online shopping of consumers, the only standard reference to the shops is just seller reputation, so naturally some of the illegal sellers used improper means to increase credibilities to trick consumers. Therefore, bad attitudes of shop sellers are common sense, and there even are people earning money by increasing shop popularity. Credulous consumers who were cheated are not few. A third-party platform for the establishment of credibility, or online shopping laws and regulations have been imperative.

The debut of Alibaba’s shares was witnessed by the company’s management team, 18 founders and other guests at the listing ceremony.

“We are pleased to welcome investors from Hong Kong and around the world to join us in building a world-class e-commerce company,” said Jack Ma, non-executive chairman of the company and chairman and chief executive officer of Alibaba Group. “Alibaba.com’s IPO ushers in a new era of e-commerce development and we look forward to pioneering an e-commerce ecosystem that benefits businesses in China and around the world.”

Alibaba.com and its parent company Alibaba Group initially offered a total of 858,901,000 shares under the Global Offering, of which 227,356,500 shares were offered by the Company and 631,544,500 shares were offered by Alibaba Group. An additional 113,678,000 shares were sold by Alibaba Group upon exercise by the International Underwriters of their Over-Allotment Option.

The eight Cornerstone Investors which participated in the Global Offering included Yahoo! Inc., AIG Global Investment Corporation (Asia) Limited, Foxconn (Far East) Limited, Industrial and Commercial Bank of China (Asia) Limited, Cisco Systems International B.V., and entities affiliated with Peter Kwong Ching Woo (Chairman of The Wharf (Holdings) Limited), the Kwok family (controlling shareholders of Sun Hung Kai Properties Limited) and Mr. Kuok Hock Nien.

The total cornerstone investment was HK$2.1 billion and all Cornerstone Investors agreed to a lock-up period of 24 months from the date of listing.

Source : Chinatechnews

By using the service, prospective travelers can use PayPal as an escrow service and relay money to travel agencies without revealing bank account details.

CITS is engaged in providing hotel reservation, air ticket booking and many other travel related services to tourists from both home and abroad. By providing PayPal payment service, it hopes to make its service more convenient and safer for its customers.

Source : Chinatechnews

By combining Ctrip.com’s rich travel information with the advanced search engine technology of Baidu.com, the parties’ cooperation will enable customers to find the location and information of up to 5000 member hotels of Ctrip.com and make a reservation directly online. In addition, it will allow them to make inquiries on more than 3000 scenic spots and other useful travel information via Baidu’s Map Channel.

At present, Ctrip.com has information on more than 28000 cooperating hotels in 134 countries and regions across the world. Fan Min, CEO of Ctrip.com, says that Ctrip has been committed to supplying convenient and high-quality hotel service for customers, and this cooperation is a win-win for both sides, for it will not only make Baidu’s travel information search more complete, but also bring a booking revenue increase for Ctrip.com.

Source : Chinatechnews

“We are very excited to enter the rapidly growing Chinese e-commerce market” said Robin Li, chairman and chief executive officer of Baidu. “Baidu’s extensive user base and rich experience in Chinese language search makes e-commerce a natural step for expansion.”"

Search engines already play a critical role in the Chinese e-commerce market. According to iResearch, 49% of China’s current C2C users conducted searches before visiting e-commerce sites. Baidu has already established a new department dedicated to the development of innovative e-commerce technologies. The company plans to continue talent recruitment and launch the C2C service in 2008.

“In China, e-commerce is still in the early stages of development” continued Li. “With Baidu’s high user traffic, popular community platforms, cutting edge technology and commitment to providing users with the best Internet experience, we are confident that Baidu will become a leader in the Chinese e-commerce space.”

Source : Chinatechnews