" Beijing, 17 February 2004 -- Alibaba.com Corporation announced today that it has raised US$82 million from institutional investors in the largest private equity commitment ever in the Chinese internet sector. The funds will allow Alibaba to continue its rapid expansion and to consolidate its position as China's largest e-commerce company.

The investors are SOFTBANK CORP., the venture arm of Fidelity Investments, Granite Global Ventures and Venture TDF Technology Group. SOFTBANK, Fidelity and TDF have been investors in Alibaba for the past four years. Granite, a Silicon Valley-based firm, joins as a new investor. The financings were led by SOFTBANK, which remains Alibaba's second largest investor, after the management and employee shareholders of the company."