Alibaba launches 1st Olympic project as IOC sponsor

PYEONGCHANG, South Korea — The Alibaba Group has launched its first Olympic project at the Pyeongchang Olympics after paying hundreds of millions of dollars last year to become a top-tier sponsor of the IOC.

The retail commerce company used star power to get attention at the Gangneung Olympic Park on Saturday, showcasing famous basketball Olympian Yao Ming and Olympic figure skater Michelle Kwan.

Called "The Olympic Games on the Cloud," the interactive experience at the Olympic venue shows fans and athletes concepts for "future Olympic Games — one that runs completely on the cloud."

IOC President Thomas Bach and Alibaba's Jack Ma toured the facility.

Ma says "like the Olympic Games, Alibaba believes in creating a level playing field, giving everyone the chance to compete on the global stage."

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