What’s new: Taobao has launched a company designed to nurture livestreamers, as the Alibaba Group Holding Ltd. shopping unit makes a renewed push in China’s highly competitive livestream e-commerce market.
Zhejiang Taobao Livestream E-commerce Co. Ltd. will provide individuals, such as celebrities and influencers, and institutions looking to stream with a host of services including account opening, business planning, inventory check, financial management, negotiation assistance and marketing, it said in a statement.
Yuan Ge, an executive at the company, said the project is similar to “a livestreamer incubation platform” that can be used to reduce operating costs and investment risks for early-stage growth. Participants can quit at any time during the six-month incubation period, Yuan added.
After the incubation period, users are free to set up their own teams or sign deals with multi-channel network agencies.
The background: Taobao was once the top player in the livestreaming business, but suffered setbacks including losing star livestreamers Viya and Xueli Cherie in 2021 over tax evasion. The platform is in heated competition with established rivals such as Douyin and Kuaishou, as well as newcomers like Meituan and Bilibili.
To regain lost ground, Taobao in 2022 rolled out incentive schemes to lure famous influencers who were mainly hosting e-commerce livestream sessions on Douyin, including serial entrepreneur Luo Yonghao and comedian Li Dan.
Contact reporter Ding Yi (yiding@caixin.com) and editor Jonathan Breen (jonathanbreen@caixin.com)
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