Chinese video website Youku.com has announced that it has established a strategic partnership with the Internet shopping website Taobao.com to promote video shopping in China's e-commerce sector.
Based on Youku.com's video technology and Taobao.com's Internet shopping platform, the two parties will jointly launch a video shopping service at the end of June 2009. The new function will first open to vendors of Taobao.com's customized online auction and e-commerce shops. By then, those vendors will be able to add videos to the descriptions of their products, providing comprehensive, multi-angle introductions of their goods.
Zhang Yu, vice president of Taobao.com, told local media that as a leading video media company in China, Youku.com is not only an Internet community for young people, but also creates social fashion that attracts more defined youth groups. Youku.com's strength in brand and technology is consistent with Taobao.com's ultimate goal of building a large and secure online trading platform. Therefore, Youku.com is the best partner for Taobao.com's video shopping service, Zhang added.
Liu Dele, CFO of Youku.com, said that the company's cooperation with Taobao.com is a win-win cooperation, which represents Youku.com's strategy of forming partnerships with leading brands in the industry. Youku.com hopes the direct effect and emotional expression of videos can provide both vendors and buyers of Taobao.com with ideal product display and brand promotion.