Profits at Alibaba.com (1688.HKG) rose 12% in the third quarter to US$64 million, hitting analyst estimates after the company hiked fees paid by online vendors earlier this year, Bloomberg reported. Revenue at Alibaba.com, a subsidiary of China eCommerce giant Alibaba Group Holding, grew 11% to US$251 million. The tech company raised fees for vendors by about 50% this year to maintain revenue growth. “Average spending per customer is increasing. The company is selling more value-added services, and the price increase at the start of the year also helped boost revenue,” said analyst Qiu Lin with Guosen Securities in Hong Kong prior to the earnings release. Alibaba.com stock rose 2% to HK$8.88 (US$1.14) on Thursday prior to the announcement. The company began offering “Gold Supplier” memberships for RMB29,800 (US$4,684) in January, and stopped selling memberships for RMB19,800.
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