Alibaba heads to Olympic Games podium

Alibaba has struck a deal to become a lead sponsor of the Olympic Games through 2028, betting that greater exposure to a global audience will help it reach consumers and promote its cloud computing business.

China’s largest online marketplace will become one of a dozen or so “top” Olympic partners, joining the likes of Coca-Cola and Samsung in the highest rung of sponsorship at a cost estimated in the hundreds of millions of dollars.

The Chinese internet firm will provide online computing services and data analytics for the sporting contest, while creating a marketplace for official merchandise.