Taobao, China's largest C2C online web portal under the Alibaba Group, and local IPTV service supplier Wasu on June 29 announced a joint venture capitalized at 100 million yuan (US$14.7 million) to provide e-commerce and digital content in the China market, according to China-based media tech.qq.com.
The joint venture will operate two platforms: Wasu-Taobao Mall, which will provide interactive TV online shopping service; and Taohua, which will provide online digital content including video, audio, games, learning, knowledge and e-book, the report said.
Wasu, with over 80 free channels and more than 120 premium channels, operates IPTV service in more than 120 cities around China and has more than 12 million subscribers, the report indicated.
Article translated by Adam Hwang
