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CBS Subsidiary Zol.com Adopts E-commerce
CBS Corporation (NYSE:CBS) subsidiary CBS Interactive plans to invest RMB 100 million in its IT portal Zol.com.cn over the next three years and add e-commerce to the site, reports The Beijing News quoting CBS Interactive Senior Vice President Liu Xiaodong. Zol.com previously had an e-commerce platform from 2000 to 2006 and plans to launch the new platform on March 25, said the report.
Zol.com will receive RMB 20 million investment for e-commerce and RMB 20 million for marketing, including media cooperation, expansion and content building, in 2009, said Liu. Liu said the site will strengthen partnerships with retailers like Gome (493.HK) and Hisap and target 100 brand partners with 2009 investment. The site currently supports Alibaba's online payment tool Alipay and doesn't expect profit from e-commerce in the next three to five years, said the report. Zol.com has 360 employees in Beijing and alliances with 85 sites.
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