Weibo to introduce e-commerce platform

Weibo to introduce e-commerce platform

Staff Reporter

2013-07-10

After the launch of an online shopping service in cooperation with Alibaba’s Taobao — one of China’s leading e-commerce websites — Sina Weibo, the country’s most popular microblogging service, has enabled online shoppers to check the status of their parcels, representing another major step towards its commercialization, reports the Beijing-based China Entrepreneur magazine. Online shoppers can now use Weibo to check the payment and shipment status for orders placed within a three month period. They can also use dedicated mobile phones in partnership with Weibo to check and receive information on orders, thereby closely monitoring the latest handling status of their items, the report said.On July 4, Weibo notified its users of the plan to help online stores on Taobao and Tmall push their products. The microblogging service can transmit information of online stores to 100,000 users at 1,000 yuan (US$160), with the targets being selected from its enormous base of 500 million registered users, in terms of occupation, gender and interests.

Weibo had previously rolled out a linkage-type advertisement service, satisfying the aspiration of small and medium e-commerce firms for social marketing via precise data analysis and data mining capabilities. The fees were then calculated according to either the amount of views or the amount of responses.

Analysts note that Alibaba, parent firm of Taobao and Tmall, intends to make Weibo its largest customer. The microblogging site is planning to launch “Taobao on Weibo,” which is currently under development and is scheduled to commence in late July. In the future, users can directly place shopping orders on Weibo.

According to the agreement between Alibaba and Weibo, the cooperation can bring Weibo US$380 million in income through marketing and e-commerce in the next three years, or US$120 million a year, compared with its reported US$66 million revenue last year, China Entrepreneur said.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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