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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: Altaf Amin Jadavji who wrote (5367)	7/9/2000 4:46:47 AM
From: Altaf Amin Jadavji	Respond to of 6018

Open Sesame!!! Maybe the gateway to SFTB riches will pry open with this (my dramatized reaction to press release). Never heard of Alibaba B2B marketplace before this ... Saturday, July 8, 2000 Alibaba.com To Open Japanese Site This Year BEIJING (Nikkei)--Alibaba.com Corp., operator of the world's largest business-to-business electronic marketplace for small and midsize companies, will open a Japanese Web site by the end of this year, Jack Ma, founder and chief executive officer of the company, told The Nihon Keizai Shimbun on Friday. Softbank Corp. (9984) and major U.S. venture investment funds have invested in the Web site, Alibaba.com. The company was founded in China and already has sites in Chinese, English and Korean. Japan is potentially a huge market because small and midsize companies have been slow to advance into the global market, even though hundreds of thousands of them manufacture superior products and possess leading-edge technology, Ma said. Ma said he wants to find Japanese companies to partner in areas such as transportation and finance in order to acquire human resources and the know-how to engage in the Internet business in Japan. A total of 260,000 firms in 196 countries are registered as members of the sites and this is increasing by 2,000 a day, Ma said. China has the largest number of registered companies followed by the U.S. and European nations, but Japan lags behind. Although Ma declined to give figures for the actual number of transactions taking place, he said Alibaba is widely used for B2B commerce, with 70% of new members invited to join the site by registered firms. Regarding the source of profits, Ma said he will keep relying on three pillars -- transaction commissions, services-related revenue such as insurance, transportation and settlements, and advertising revenue. (The Nihon Keizai Shimbun Saturday morning edition) -------------------------------------------------------------------------------- Corporate Profiles: SOFTBANK(9984)