Alibaba is investing $732 million in Chinese ecommerce site Taobao, according to The Inquisitr.

According to the Inquisitr:

Taobao has created an e-commerce ecosystem consisting of 80 million users, over 1 million sellers, and 200 million items for Chinese consumers to select from. The new funding, spread over five years, will be used to build a more advanced platform for merchants, while continuing to offer its services for free to buyers and individual sellers.

So fram the global economic downturn looks more like an opportunity than a problem for Alibaba. They've hired 4,000 new employees recently...


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