Rebirth in the Perfect Era.

Summary

The passage details the birth of Taobao on June 6, 2002, marking a revolutionary moment in China's e-commerce landscape. Selling 100,000 devices in just three minutes and generating 430,000 orders, Taobao transformed online shopping by creating a diverse, competitive marketplace. Unlike Eachnet's flawed eBay imitation, Taobao focused on connecting small businesses and merchants, providing them motivation to earn substantial profits. Li Mu, the strategic mastermind behind Taobao, leveraged unique resources and political connections to develop an ecosystem that shifted Chinese consumers from cautious to enthusiastic online shoppers.

Full content