Chinese Auction Site Taobao Announces Reorganization

Chinese auction site Taobao is reorganizing into three separate companies targeting distinct segments of the e-commerce market. Taobao will be split into Taobao Mall, a shopping website allowing major retailers and internationally known brands to sell directly to Chinese consumers; Taobao Marketplace, China's leading website geared for smaller "consumer-to-consumer" transactions, online auctions and group shopping; and eTao, a specialized search engine launched by Taobao last year that allows consumers to scour the internet at large for products and services.