The Chinese e-commerce giant signed a deal to join Coca-Cola, McDonald's and 10 other companies as top Olympic sponsors. Fred Katayama reports.
Alibaba will get to bathe in the Olympic glow. The Chinese e-commerce giant signed a deal at the World Economic Forum in Davos to become a major sponsor of the Olympic Games. Alibaba Group Executive Chairman Jack Ma: SOUNDBITE: JACK MA, EXECUTIVE CHAIRMAN, ALIBABA (ENGLISH) SAYING: "We are proud as the first Chinese company that have three term, you know, 12 years commitment. And we will making sure that this thing works. And we will sure to make this thing help. And I think Alibaba is a company, we are found in China but we are built for the world." The sponsorship runs until 2028. Milken Institute Asia fellow Curtis Chin was formerly a senior executive at the PR firm, Burson Marstellar. SOUNDBITE: CURTIS CHIN, FELLOW, MILKEN INSTITUTE, (ENGLISH) SAYING: "Now when you look at these companies sponsoring the Olympics, I also say, think about them not because of their sponsorship dollars and their donations, think about them because of their behavior and judge them because of their behavior, not because of their sponsorship of such a great thing as the Olympics." The deal makes Alibaba the official e-commerce and cloud services partner. The International Olympics Committee hopes the Alibaba partnership will make the Olympics more technologically efficient and secure and extend the reach of its new digital Olympic Channel.