Chinese e-commerce giant Alibaba (NYSE: BABA) has started selling its livestreaming technologies to other companies, according to a press release from the company on Thursday.
Cyberspace security software maker 360, consumer goods recommendations platform Smzdm.com, and WPS, an office software provider, are all among about 60 companies to have begun promoting their products or services on their own platforms respectively, leveraging on Alibaba’s own livestreaming technology, said the e-commerce giant, without revealing more details.
While selling products or services via livestream is nothing new, Alibaba’s Taobao Streaming has in-house developed technologies to ensure a smooth livestreaming experience. The technology facilitates interactions between livestreamer and audience, as well as e-commerce purchases. Alibaba’s so-called narrow-band high definition technology reduces latency to near zero, while other livestreaming platforms have latency lasting for about seven to eight seconds, the company said in the press release.
This move allows smaller companies and livestreamers to capitalize on the rapidly growing livestreaming e-commerce sector in China, Alibaba added.
Alibaba launched Taobao Livestreaming as early as April 2016, which has allowed users to promote a wide variety of goods, ranging from clothing, cosmetics, jewelry, to fruits on the platform.
The company has set a target of RMB 500 billion (USD 73 billion) in gross transaction volume for its livestreaming e-commerce segment this year, while short-video apps Kuaishou and ByteDance’s Douyin, have set a target of USD 37 billion and USD 29 billion respectively, according to 36Kr.
(The story has been updated in the third paragraph.)