The Development and Evolution of Taobao
On May 2003 10, Taobao was established, which was invested and founded by Alibaba Group. 5438+ 10 month, Alipay, a third-party payment tool, was launched, which enabled consumers to trust the transactions on Taobao with the secured transaction mode. The total turnover in 2003 was 34 million yuan. In 2004, Taobao Want Want went online and linked instant chat tools with online shopping.
In 2005, Taobao surpassed Yi Bei and began to leave its competitors far behind. In May, Taobao surpassed Yahoo Japan and became the largest online shopping platform in Asia. In 2005, the turnover exceeded 8 billion yuan, surpassing Wal-Mart.