China auction site Taobao saw transactions double in 2007

Published January 22nd, 2008

Alibaba’s online consumer auction firm, Taobao, saw its transaction volume more than double last year, amid rapid growth in China’s e-commerce market. Taobao’s customer base also soared, reaching 53 million in 2007, up nearly 77 percent compared with the previous year, the company said in a statement late on Monday.