Alibaba announced today that it has created a $129 million non-profit organization to help young people who want to start businesses on the e-commerce giant’s online marketplaces. Called the Alibaba Hong Kong Young Entrepreneurs Foundation, the group may benefit Alibaba in two ways. For one, it can get more sellers onto Taobao Marketplace and Tmall, its main shopping sites.
The foundation could also potentially boost Alibaba’s reputation in Hong Kong, where students and young workers have been frustrated by economic policies that they believe favor tourists and immigrants from mainland China. C