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of June 2007. The Chinese Internet Center forecasts that Chinese Internet
        users will exceed U.S. users by 2009. The U.S. research firm eMarketer
        reports China at 156 million and the United States at 185 million in 2007.
        Forecast numbers in the text for China and the United States are from the U.S.
        research firm eMarketer.
           3. Online advertising in the United States will top $35 billion by 2012, up
        from nearly $20 billion in 2007, predicts the industry tracker Jupiter
        Research. Paid searching in the United States will hit $10 billion by 2009,
        forecasts the research firm eMarketer, up from $8.2 billion in 2007.
           4. The venture investors were DFJ ePlanet Ventures, a former global
        affiliate of Draper Fisher Jurvetson, and IDG Ventures China, an early
        investor in China and an arm of the large technology publisher and research
        firm IDG Group.

           5. Google picked up the idea for a commercial search firm Overture
        Services in Pasadena, which was acquired by Yahoo! in 2003.



        Chapter Two
           1. Alibaba.com claims a market share in China of more than 69 percent,
        according to the Beijing-based Analysys International, China B2B Market
        Quarterly Tracker Q1 2007.

           2. Some of them are eBay power sellers who resell the Chinese-made goods.
           3. In 1999, Ma raised $5 million from Goldman Sachs and a few Chinese
        venture investors. He raised $20 million in 2000 from the Japanese Internet
        player Softbank Corp. In 2004, he raised $82 million from Softbank, Fidelity
        Ventures, Venture TDF China, and Granite Global Ventures.
           4. eBay entered China in 2002 by investing $30 million for a 33 percent
        stake in Eachnet. In 2003, eBay acquired the remaining shares in Shao’s start-
        up for $150 million.
           5. Shao is the founder of the Chinese infant care site BabyTree.com and the
        drug producer and marketer NovaMed Pharmaceuticals.
           6. With the $1 billion from Yahoo!, Ma bought out his venture investors in
        a deal that valued Alibaba at an improbable $4.1 billion. Yang and Softbank





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