Alibaba`s Taobao and Tmall marketplaces are the main sales channels for many online retailers, and securities authorities often contact Alibaba to audit the sales of those sellers, internetretailer.com reports. The new department will help merchants plan an initial public offering to get support from Alibaba`s legal, finance and operations teams.
About 50 sellers on Taobao or Tmall are working with Alibaba on IPOs. Most of them are web-only retailers with an annual turnover of several hundred million dollars. Among them are Shandong Guangzhou Huimei Fashion, Handuyishe E-commerce and Anhui Three Squirrels E-commerce.
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