Chinese Internet shopping platform Taobao.com has confirmed that the company has set up a subsidiary in Beijing, and Wu Yongming, former general manager for Alimama.com, will be general manager for this new branch.
According to an insider from Taobao.com, though the company's headquarters is in Hangzhou, it has an office in Beijing and the location of this office is in the Winterless Center in Chaoyang district. After the office is restructured into Taobao.com's Beijing branch, it will move to the two-floor office areas in Taikang Financial Tower.
At present, Taobao.com's Beijing branch has about 300 employees and it is directly managed by the company's Hangzhou headquarters.
Invested by the Chinese B2B e-commerce group Alibaba with CNY450 million in 2003, Taobao.com is mainly engaged in C2C e-commerce businesses and was originally an online auction platform. In September 2008, Alibaba announced that it will merge its two subsidiaries, Taobao.com and Alimama.com, and will use the unified brand of Taobao. At that time, Alimama.com's former general manager Wu was appointed vice president of Taobao.com and was in charge of the business of Alimama.com.