Alibaba Olympics Sponsorship Deal Said to Be Worth $800 Million
- Scale of agreement is biggest ever, according to IOC executive
- Chinese e-commerce giant joins ranks of Coca Cola, Samsung
Why Alibaba Wants to Sponsor the Olympics
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Alibaba Group Holding Ltd.’s deal to sponsor the Olympic Games through 2028 is worth $800 million, according to a person familiar with the matter.
The agreement, the biggest in the Olympic movement’s history, would help the Chinese e-commerce giant gain exposure across the world, putting it on the same footing as a dozen or so “TOP” Olympic partners, like Coca Cola Co. and Samsung Electronics Co. in the highest rung of sponsorship. Alibaba will provide online computing services and data analytics for the sporting contest, while creating a marketplace for official merchandise. It will also help develop an online video channel for viewers in China, the world’s largest consumer market.