Chinese eBay Rival Aims for 1 Billion Global Users

The company known as China’s eBay will aim for expansion abroad in the long term, but first it wants more foreign products sold on its platform in China. Taobao.com, a booming auction and retail site, does not have a concrete plan for the overseas market but will likely target regions with cultural similarities to China first. Alibaba Group, Taobao’s parent company, wants 1 billion global users shopping on the site in 10 years, group CEO Jack Ma earlier told reporters. The target, more than one-seventh of the world’s population, compares with Taobao’s current average of up to 25 million shoppers each day