In October 2010, Taobao beta-launched eTao as an independent search engine for online shopping to provide and merchant information from a number of major consumer e-commerce websites in China. Its market share grew from 8% to 59% between 20, while eBay China dropped from 79% to 36%. Taobao became mainland China's market leader within two years. It introduced instant messaging for facilitating buyer-seller communication and an escrow-based payment tool: Alipay. To counter eBay's expansion, Taobao offered free listings to sellers. It became a major contender in the Chinese consumer e-commerce market. ![]() ĮBay acquired Eachnet, China's online auction leader at the time, for US$180 million. With over 1 billion product listings as of 2016, the combined transaction volume of Taobao Marketplace and reached 3 trillion yuan in 2017. Taobao's popular payment platform is Alibaba's Alipay Taobao users usually read feedback and compare items from multiple shops. Auctions make up a small percentage of transactions, whereas the majority of the products are new merchandise sold at fixed prices. Sellers are able to post goods for sale either through a fixed price or an auction. Its stores usually offer an express delivery service. Taobao Marketplace facilitates consumer-to-consumer retail by providing a platform for small businesses and individual entrepreneurs to open online stores that mainly cater to consumers in Chinese-speaking regions ( Mainland China, Hong Kong, Macau and Taiwan) and abroad, which is made payable by online accounts. was registered on Ap by Alibaba Cloud Computing (Beijing) Co., Ltd. ![]() According to Alexa rank, it is the eighth most-visited website globally in 2021. It is headquartered in Hangzhou and is owned by Alibaba. ![]() Taobao ( Chinese: 淘宝 simplified Chinese: 淘宝 traditional Chinese: 淘寶 pinyin: Táobǎo) is a Chinese online shopping platform. "Taobao" in Simplified (top) and Traditional (bottom) Chinese characters
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