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Taobao 2006 GMV Hits 16.9B Yuan
Alibaba's consumer-to-consumer (C2C) site Taobao recorded 16.9 billion Yuan in gross merchandise volume (GMV), or transaction volume, in 2006, up 110 percent year-on-year. Taobao had more than 30 million users by the end of 2006, up 110 percent from 2005. Average Taobao user spending was 563 Yuan in 2006. Taobao recorded 1 million Yuan in daily sales of prepaid phone cards during the first two quarters of 2006, which increased to 1.5 million Yuan and 3 million Yuan in third and fourth quarters, respectively.
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