NEW YORK (TheStreet) -- Alibaba Group Holding (BABA) founder Jack Ma said today that the firm will set up an international version of its e-commerce marketplace Taobao to serve shoppers worldwide in multiple languages, including English and Chinese, Reuters reports.
Alibaba currently has an international e-commerce platform specializing in wholesale goods called Aliexpress, but does not have a similar offering for consumers to sell to each other, Reuters noted.
Ma made the comments on the sidelines of a meeting in China's eastern city of Hangzhou between China's Premier Li Keqiang and Chinese and foreign Internet industry leaders. The meeting coincided with the World Internet Conference, being held over three days in the town of Wuzhen, Reuters said.
Shares of Alibaba are down 1.20% to $107.51 in pre-market trade.