China's Interfax news service reports that Taobao says it has 60 percent of the market share of the consumer auction space in China. Alibaba's Taobao told Interfax it has 10.04 million registered users and has been adding an average of 1 million new users per month in the third quarter. During the third quarter, there were 10.79 million items listed on Taobao.com The transaction volume of this exceeded $289 million.
This summer, Yahoo entered into a long-term strategic agreement with Alibaba, giving it $1 billion along with its 1Pai and search properties (http://www.auctionbytes.com/cab/abn/y05/m08/i11/s00).
eBay no longer breaks out numbers for its China site and told Interfax the two sites are not comparable because Taobao is a free service. eBay EachNet charges sellers fees to list items. eBay CEO Meg Whitman spent much of the summer in China and launched PayPal China in August, where it competes with Alibaba's Alipay service.
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