Alibaba Invests in Classified Listings Web Site

From Red Herring:

"Alibaba.com, China’s largest e-commerce company, said Monday it had made a strategic investment in Koubei.com, a classified listings and community web site based, like Alibaba, in the East China city of Hangzhou."

"Koubei.com, founded in 2004, offers local classified ads and discussion forums in major Chinese cities. The site, the name of which means “word of mouth” or “reputation” in Chinese, encourages users to rate and comment on local businesses."