Welcome!

Wearables Authors: Zakia Bouachraoui, Elizabeth White, Yeshim Deniz, Dana Gardner, Liz McMillan

News Feed Item

iMing Corp. Plans to Open a E-Commerce Online Retail Store

HONG KONG, CHINA -- (Marketwire) -- 12/10/12 -- iMing Corp. (OTC PINK:IMNG) announced today that the company plans to open a E-commerce online retail store at Taobao Marketplace. Taobao Marketplace is a Chinese language web site for online shopping, similar to eBay and Amazon, operated in China. Founded by Alibaba Group in May 10, 2003, Taobao Marketplace facilitates consumer-to-consumer (C2C) retail by providing a platform for small businesses and individual entrepreneurs to open online retail stores that mainly cater to consumers in mainland China, Hong Kong, Macau and Taiwan.

Taobao Marketplace (formerly "Taobao") was launched in May 2003 by Alibaba Group after eBay acquired Eachnet, China's online auction leader at the time, for US$180 million and became the major player in the Chinese consumer e-commerce market. To counter eBay's expansion, Taobao offered free listings to sellers and introduced website features designed to better cater to local consumers, such as an instant messaging tool for facilitating buyer-seller communication and an escrow-based payment tool, Alipay. As a result, Taobao became the undisputed market leader in mainland China within two years. Its market share jumped from 8% to 59% between 2003 and 2005, while eBay China's slid from 79% to 36%. eBay had to shut down its own site in China in 2006.

In April 2008, Taobao introduced a dedicated B2C platform called Taobao Mall to complement its C2C marketplace. Since then, Taobao Mall has established itself as the destination for quality, brand name goods for Chinese consumers. Taobao Mall launched an independent web domain, tmall.com, and enhanced its focus on product verticals and improvements in shopping experience in November 2010. It became an independent business in June 2011 and changed its Chinese name to Tian Mao (Tmall) in January 2012.

In 2008, Taobao also announced the "Big Taobao" strategy with the aim of becoming a provider of e-commerce infrastructure services for all e-commerce market participants, hence fueling the overall growth of the online shopping industry.

In October 2010, Taobao beta launched eTao as an independent online shopping search engine, providing product and merchant information from a number of major consumer e-commerce websites in China.

In June 2011, Alibaba Group Chairman and CEO Jack Ma revealed that Taobao will be split into three different companies:,Taobao Marketplace (a C2C platform), Tmall.com (a B2C platform; then called Taobao Mall), and eTao (a shopping search engine). The move was said to be necessary for Taobao to "meet competitive threats that emerged in the past two years during which the Internet and e-commerce landscape has changed dramatically."

From 2012 onwards, Taobao began to accept international Visa and Mastercard credit cards; prior, only domestic banks were supported by AliPay. The plan to support international credit cards was announced in late 2011.

Taobao Marketplace currently has more than 370 million registered users as of the end of 2010 and currently hosts more than 800 million product listings. it facilitated approximately RMB200 billion in gross merchandise volume in 2009. In May 2012, Taobao ranked 14th overall in Alexa's internet rankings.

In 2009 Taobao saw advertising revenues of $220 million. Advertising accounts for a majority of Taobao's income. Analysts believe Taobao's turnover exceeded 400 billion RMB in 2010 and revenues surpassed 5 billion RMB. (Taobao's information is from Wikipedia)

ABOUT THE COMPANY

iMing Corp is positioning its self to be a leading technology solution provider of set-top boxes (STB) which supplies high-definition television through the Web (Web TV) in China, with the goal of being a leading provider of set-top boxes through out Asia and expanding into North America and Europe. The iMing's Set-Top Box can play source files from USB, SD/MMC card, SATA or an internal 2.5"storage installed into the Web TV Box. By supporting the latest format 1080P Full HD decoding, SPDIF.7.1.DTS decoding and HDMI 1.3, the iMing Web TV Box brings superior quality and flexibility to consumers home entertainment experience. The technology used by iMing makes its competitive with the other industry players such as Google TV, WDTV, Apple TV, Roku and Boxee Box.

For further information please refer to the Company's website at www.imingcorp.com.

If you would like to receive regular updates on iMing Corp. please send your email request to [email protected] or contact the company's Investor and Public relations at [email protected] .

SAFE HARBOR STATEMENT

Certain of the statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

Contacts:
iMing Corp.
[email protected]
852-3619-3974

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
DXWorldEXPO LLC announced today that Ed Featherston has been named the "Tech Chair" of "FinTechEXPO - New York Blockchain Event" of CloudEXPO's 10-Year Anniversary Event which will take place on November 12-13, 2018 in New York City. CloudEXPO | DXWorldEXPO New York will present keynotes, general sessions, and more than 20 blockchain sessions by leading FinTech experts.
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...