Taobao, which operates China’s leading internet shopping portal, on Tuesday unveiled a CNY100 million (USD14.7 million) joint venture that could make it the country’s largest online retailer of digital content.
The Hangzhou-based firm has teamed up with Wasu Media Internet, a subsidiary of Wasu Digital Television Media Group, to run Taohua.com, a new online platform that serves as a one-stop site to share and buy video, e-books, music and other digital entertainment offerings, and education-related products.
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(Source: scmp.com)