Further investments announced by Alibaba

[img_assist|nid=7263|title=|desc=|link=none|align=left|width=100|height=59]A $30 million is planned to be made by Chinese e-commerce powerhouse Alibaba Group to promote its brand name across the globe.

Chinese mass media reports that Alibaba is also planning to establish relations with companies in more than 20 countries so as to achieve a worldwide presence.

Earlier this month Alibaba announced that it would make an investment of v within the following five years into its popular e-commerce site Taobao.com, which was recently merged with Alibaba’s digital ad service platform Alimama.

The move is a strategic step in a competition with Baidu, which recently launched its rival e-commerce platform Youa.com.

According to the data provided by the company as of September 2008 Taobao had over 80 million registered users and one million sellers.