
Alibaba Group's Taobao launches fund for developers
Days after Alibaba Group Holdings came under fire for uncovering fraudulent vendors on its B2B domain Alibaba.com, the holding company announced that its popular e-auction site, Taobao.com, would launch an RMB300 million ($45.6 million) fund to foster external digital application developers.
According to reports citing an announcement Taobao Vice President Wang Wenbin, the fund looks to promote third-party developers in hopes of adopting new technology into its main operations. Taobao differs...
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