Alibaba and IOC become partners till 2028

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In a new development,  Alibaba will become the official “Cloud Services” and “E-Commerce Platform Services” Partner, as well as a Founding Partner of the Olympic Channel.

The partnership was announced on the sidelines of the World Economic Forum at Davos.

Thomas Breach, President of the IOC;

In this new digital world, Alibaba is uniquely positioned to help the IOC achieve a variety of key objectives outlined in Olympic Agenda 2020, while positively shaping the future of the Olympic Movement. This is a ground-breaking, innovative alliance, and will help drive efficiencies in the organisation of the Olympic Games through 2028, whilst also supporting the global development of digital opportunities including the Olympic Channel.

“Alibaba’s partnership with the IOC is built on a foundation of shared values and a common vision for connecting the world and enriching people’s lives,” said Jack Ma, Founder and Executive Chairman of Alibaba Group. “We are proud to support Olympic Agenda 2020, using our innovations and technologies to help evolve the Olympic Games for the digital era.”

This new deal will have Alibaba providing state of the art cloud services for IOC. The new deal will help IOC operate much more effectively and streamline their performance. The deal will also provide for a global ecommerce platform on the sidelines of the Olympics. It is touted to increase the revenues for Olympics.

This is a move by IOC to connect with their younger audience. Olympics has had a rich tradition throughout the past several years. We have seen people be enthralled by the Olympic games and yet there is a growing disconnect amongst the younger generation and Olympics.

Source : Olympics