Pay88, Inc. (PAYI.OB) and Alibaba.com Ltd. Announce New Sales Agreement
Source: http://Blog.QualityStocks.net/?p=18831Posted on Tuesday, October 27th, 2009 | In Investing Lessons, Small & Micro Cap
Pay88, Inc. reported yesterday that its wholly-owned subsidiary Qianbao Technology will act as a distributor for Alibaba.com Limited (HKSE: 1688.HK). Pay88 already has an established network of users in Southwestern China where the distribution for Alibaba will occur.
Pay88, Inc. is a rapidly growing digital technology company and the leading reseller of internet game time in China. Alibaba.com Limited (HKSE: 1688.HK) is the world’s largest marketplace for global trade and the leader in business-to-business (B2B) e-commerce. The agreement will enable Pay88 to expand products in its current distribution pipeline while opening new geographic markets up to Alibaba.
Guo Fan, Chairman and President of Pay88, commented on the new agreement saying, “Pay88’s diverse distribution channels and strong presence in Chongqing and the southwest regions of China offer a unique opportunity to utilize the strengths of both companies.”
Tao Fan, COO of Pay88, added, “As a result of this new relationship, Qianbao Technology will be able to capitalize on Pay88’s distribution channels in southwest China to offer Alibaba’s services to small- and mid-sized entities in what has traditionally been an underserved area. We are excited about the potential for growth this offers to both our companies.”
Pay88 officials see the Alibaba agreement as an important step forward in their overall goals. For the upcoming year, the company will continue to develop and improve its Internet gaming platform, expand its distribution websites, increase its overall product line, as well as expand geographically into new cities in China.
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Alibaba.com Limited, chairman and President, China, Chongqing, Coo, digital technology, e - commerce, Guo Fan, internet game time, Internet gaming platform, Investing Lessons, leader, Pay88 Inc., Small & Micro Cap, subsidiary Qianbao Technology, Tao Fan
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