Alibaba.com Fortifies Supplier Authentication With VeriSign
MOUNTAIN VIEW, CA (Marketwire) - Connecting nearly 36 million buyers and sellers in a business-to-business marketplace that stretches across more than 240 countries and regions, Alibaba.com Limited (HKSE: 1688) is committed to providing participants with an e-commerce experience they can trust. To build that reassurance, Alibaba.com is teaming with VeriSign, Inc. (NASDAQ: VRSN), the trusted provider of Internet infrastructure services for the networked world.
A new alliance between the two companies will give suppliers who subscribe to Alibaba.com's TrustPass membership service a way to verify their status as a legitimate business entity — and communicate that to buyers using the VeriSign Verified™ Seal. VeriSign seals are the No. 1 sign of trust on the Internet.
When merchants and suppliers enroll in the Alibaba TrustPass membership program, VeriSign will independently authenticate the business in a multi-step verification process. Only those suppliers who pass the VeriSign evaluation will be allowed to display the VeriSign Verified™ Seal on their TrustPass profiles, microsites, and Alibaba.com product detail pages.
Alibaba.com will make the enhanced verification available to its international TrustPass members whose products are carried on the company's English-language marketplace (www.alibaba.com) for global importers and exporters.
"Now more than ever, buyers are looking for solid reassurance that they're doing business with reliable online suppliers," said Arthur Chang, Vice President of Global Sales, Alibaba.com. "Adopting VeriSign's authentication and verification process for TrustPass members will help us improve the Alibaba.com experience by giving qualified suppliers the chance to communicate their standing with the globally trusted VeriSign Seal."
The new alliance is an important development for VeriSign's efforts to expand its presence in China, home to one of the world's fastest-growing economies.
"In an online marketplace, the ability to provide instantly recognizable reassurance of a trusted transaction could determine whether a particular supplier is chosen or passed over," said Michael Lin, vice president of SSL product management at VeriSign. "That makes the VeriSign Verified Seal such a critical tool for Alibaba.com suppliers. For TrustPass members who pass VeriSign's authentication and verification screening, the ability to build trust with buyers is just a click away."
VeriSign Seal is the leading sign of trust on the Internet. Recognized worldwide, the VeriSign Verified Seal appears on Web pages of merchants whose identities have been verified by VeriSign. Site visitors click on the seal to verify a merchant's site information in real time.
About Alibaba.com Limited
Alibaba.com Limited (HKSE: 1688) is the world's leading B2B e-commerce company. It connects millions of buyers and suppliers from around the world every day through three marketplaces: an English-language marketplace (http://www.alibaba.com/) for global importers and exporters, a Chinese-language marketplace (alibaba.com.cn) for domestic trade in China, and, through a joint venture, a Japanese-language marketplace (alibaba.co.jp) facilitating trade to and from Japan. Together, its marketplaces form a community of 36 million registered users from over 240 countries and regions. Headquartered in Hangzhou, Alibaba.com has offices in more than 30 cities across mainland China as well as in Taiwan, Hong Kong, Europe and the United States.
VeriSign, Inc. (NASDAQ: VRSN) is the trusted provider of Internet infrastructure services for the networked world. Billions of times each day, VeriSign helps companies and consumers all over the world engage in communications and commerce with confidence. Additional news and information about the company is available at www.verisign.com.
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign Secured Seal solutions; the possibility that VeriSign's announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2007 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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