The International Olympic Committee (IOC)and Alibaba Group (NYSE: BABA) established a long-term relationship that will last through 2028. Alibaba will join the Olympic Channel as an official 'Cloud Services' and 'E-Commerce Platform Services' partner, as well as a Founding Partner, after becoming a member of The Olympic Partner's (TOP) global sponsorship program.
During the World Economic Forum in Davos, Switzerland, IOC President Thomas Bach and Alibaba Group Founder and Executive Chairman Jack Ma, along with Alibaba Group Chief Executive Officer Daniel Zhang, announced the alliance.
'Alibaba is uniquely positioned in this new digital environment to assist the IOC in achieving a variety of significant objectives mentioned in Olympic Agenda 2020 while defining the Olympic Movement's future positively,' stated IOC President Thomas Bach. This is a ground-breaking, forward-thinking partnership that will assist generate efficiencies in the Olympic Games' organization through 2028, as well as support the global development of digital prospects, such as the Olympic Channel.'
'Alibaba's collaboration with the IOC is based on similar values and a shared goal for connecting the world and enriching people's lives,' said Jack Ma, Alibaba Group's Founder and Executive Chairman. 'We are glad to support Olympic Agenda 2020 and contribute to the progress of the Olympic Games for the digital era with our innovations and technology.'
Alibaba is the first Chinese corporation to commit to the Olympic Winter Games in Beijing 2022 and the first to make a long-term commitment to the IOC through 2028.
