HANGZHOU, China: Internet group Alibaba.com in which Yahoo holds a $1 billion (€676.3m; £484.2m) forty per cent stake - has launched an online advertising exchange.

The new service, branded Alimama, aims to match Chinese advertisers with the nation's innumerable small-to-medium websites and bloggers.

Claiming to have already signed more than 150,000 small and medium-size web publishers plus 135,000 personal blogs, Alimama will take a commission of around 8% on all ad sales made through the site.

Alibaba vp for corporate affairs Porter Erisman says the most popular type of sales made via Alimama are straightforward flat-fee purchases of ad space. "It's old school, but new economy," he said.

Data sourced from Financial Times; additional content by WARC staff