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#32 Alibaba: The House That Jack Ma Built
Founders
Tobao - Alibaba, T-Maw, and Alibaba
Tobao consists of nine million storefronts run by small traders or individuals. Attracted by the site's huge user base, these micro merchants choose to set up their stalls on Tobao in part because it costs them nothing to do so. On T-Maw, they actually get a percentage of everything sold. Despite massive construction of shopping malls, supermarkets, and corner stores, China's offline retail penetration is still extremely low.
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