Alibaba announced investing US$ 157 million (RMB 1 billion) into Taobao portfolio Etao.com, a price comparison service with affiliate programs which was spun off in this June in an aim to help promoting 3rd party ecommerce sites by increasing both their exposure and traffic.

Founded by Taobao in last October, Etao.com has aggregated more than 1 billion items from over 5,000 Chinese ecommerce sites ranging from general stores such as Taobao.com, Joyo.com and vertical ones and 600 China daily deal sites.

Wu yongming, president of Etao said that the company which curates a mission of “Being Open” wants to foster the growth of China’s ecommerce companies.

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Ben Jiang

Listener of startups, writer on tech. Maker of things, dreamer by choice.