Chinese e-commerce company Alibaba.com wants to expand its electronic marketplace operations to India, Japan, Taiwan and Hong Kong.
Alibaba.com CEO David Wei told the Wall Street JournalÂ (subscription required) after the company’s recent $1.5 billion IPO:
“Although we believe that Chinese manufacturers’ competitiveness will remain for a very, very long term, for some categories ‘made in India’ can be also very competitive.
Alibaba operates two online platforms to connect small and medium-sized buyers and suppliers from China and around the world.
The international marketplace focuses on global importers and exporters while the Chinese marketplace focuses on suppliers and buyers trading domestically in China.
Yahoo owns 39% of Alibaba Group, parent company of Alibaba.com.
Meanwhile Alibaba.com shares tripled Tuesday on the Hong Kong Stock Exchange to HK$39.50 ($5.06) taking the company’s market capitalization to US$26 billion.