iMing Corp. Plans to Open a E-Commerce Online Retail Store
11 December 2012 - 8:15AM
Marketwired
iMing Corp. (OTC PINK:IMNG) announced today that the company plans
to open a E-commerce online retail store at Taobao Marketplace.
Taobao Marketplace is a Chinese language web site for online
shopping, similar to eBay and Amazon, operated in China. Founded by
Alibaba Group in May 10, 2003, Taobao Marketplace facilitates
consumer-to-consumer (C2C) retail by providing a platform for small
businesses and individual entrepreneurs to open online retail
stores that mainly cater to consumers in mainland China, Hong Kong,
Macau and Taiwan.
Taobao Marketplace (formerly "Taobao") was launched in May 2003
by Alibaba Group after eBay acquired Eachnet, China's online
auction leader at the time, for US$180 million and became the major
player in the Chinese consumer e-commerce market. To counter eBay's
expansion, Taobao offered free listings to sellers and introduced
website features designed to better cater to local consumers, such
as an instant messaging tool for facilitating buyer-seller
communication and an escrow-based payment tool, Alipay. As a
result, Taobao became the undisputed market leader in mainland
China within two years. Its market share jumped from 8% to 59%
between 2003 and 2005, while eBay China's slid from 79% to 36%.
eBay had to shut down its own site in China in 2006.
In April 2008, Taobao introduced a dedicated B2C platform called
Taobao Mall to complement its C2C marketplace. Since then, Taobao
Mall has established itself as the destination for quality, brand
name goods for Chinese consumers. Taobao Mall launched an
independent web domain, tmall.com, and enhanced its focus on
product verticals and improvements in shopping experience in
November 2010. It became an independent business in June 2011 and
changed its Chinese name to Tian Mao (Tmall) in January 2012.
In 2008, Taobao also announced the "Big Taobao" strategy with
the aim of becoming a provider of e-commerce infrastructure
services for all e-commerce market participants, hence fueling the
overall growth of the online shopping industry.
In October 2010, Taobao beta launched eTao as an independent
online shopping search engine, providing product and merchant
information from a number of major consumer e-commerce websites in
China.
In June 2011, Alibaba Group Chairman and CEO Jack Ma revealed
that Taobao will be split into three different companies:,Taobao
Marketplace (a C2C platform), Tmall.com (a B2C platform; then
called Taobao Mall), and eTao (a shopping search engine). The move
was said to be necessary for Taobao to "meet competitive threats
that emerged in the past two years during which the Internet and
e-commerce landscape has changed dramatically."
From 2012 onwards, Taobao began to accept international Visa and
Mastercard credit cards; prior, only domestic banks were supported
by AliPay. The plan to support international credit cards was
announced in late 2011.
Taobao Marketplace currently has more than 370 million
registered users as of the end of 2010 and currently hosts more
than 800 million product listings. it facilitated approximately
RMB200 billion in gross merchandise volume in 2009. In May 2012,
Taobao ranked 14th overall in Alexa's internet rankings.
In 2009 Taobao saw advertising revenues of $220 million.
Advertising accounts for a majority of Taobao's income. Analysts
believe Taobao's turnover exceeded 400 billion RMB in 2010 and
revenues surpassed 5 billion RMB. (Taobao's information is from
Wikipedia)
ABOUT THE COMPANY
iMing Corp is positioning its self to be a leading technology
solution provider of set-top boxes (STB) which supplies
high-definition television through the Web (Web TV) in China, with
the goal of being a leading provider of set-top boxes through out
Asia and expanding into North America and Europe. The iMing's
Set-Top Box can play source files from USB, SD/MMC card, SATA or an
internal 2.5"storage installed into the Web TV Box. By supporting
the latest format 1080P Full HD decoding, SPDIF.7.1.DTS decoding
and HDMI 1.3, the iMing Web TV Box brings superior quality and
flexibility to consumers home entertainment experience. The
technology used by iMing makes its competitive with the other
industry players such as Google TV, WDTV, Apple TV, Roku and Boxee
Box.
For further information please refer to the Company's website at
www.imingcorp.com.
If you would like to receive regular updates on iMing Corp.
please send your email request to info@imingcorp.com or contact the
company's Investor and Public relations at info@imingcorp.com .
SAFE HARBOR STATEMENT
Certain of the statements set forth in this press release
constitute "forward-looking statements." Forward-looking statements
include, without limitation, any statement that may predict,
forecast, indicate, or imply future results, performance or
achievements, and may contain the words "estimate," "project,"
"intend," "forecast," "anticipate," "plan," "planning," "expect,"
"believe," "will likely," "should," "could," "would," "may" or
words or expressions of similar meaning. Such statements are not
guarantees of future performance and are subject to risks and
uncertainties that could cause the company's actual results and
financial position to differ materially from those included within
the forward-looking statements. Forward-looking statements involve
risks and uncertainties, including those relating to the Company's
ability to grow its business. Actual results may differ materially
from the results predicted and reported results should not be
considered as an indication of future performance. The potential
risks and uncertainties include, among others, the Company's
limited financial resources, domestic or global economic conditions
-- especially those relating to China, activities of competitors
and the presence of new or additional competition, and changes in
Federal or State laws, restrictions and regulations on doing
business in a foreign country, in particular China, and conditions
of equity markets. The Company disclaims any obligation
subsequently to revise any forward-looking statements to reflect
events or circumstances after the date of such statement or to
reflect the occurrence of anticipated or unanticipated events.
Contacts: iMing Corp.info@imingcorp.com 852-3619-3974
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