Alibaba [BABA:US] announced its all-in-one VIP membership program on August 8, as reported by SCMP on August 10. The membership covers Alibaba’s businesses including e-commerce platforms Taobao and Tmall, video website Youku, food delivery service Ele.me, music app Xiami Music and film tickers platform Taopiaopiao. A scoring mechanism called Taoqi Value will be introduced, which is calculated based on users’ purchasing records and individual credit. According to Alibaba, the membership scheme will offer discounts to its members to save up to RMB2000 per user.
Although the program is named as "88VIP", only users with Taoqi Value higher than 1,000 points have the privilege to only pay RMB88 for the one-year membership, otherwise, RMB888 is needed. Similar to the Amazon’s prime membership which attracts u