Alibaba.com and Inc. Announce Forward Mobility as ‘Newpreneur of the Year’

Proving that the recession can create opportunities to grow or start a small business, Alibaba.com (HKSE:1688) and Inc. announced today that Forward Mobility has been named ‘Newpreneur of the Year’ following a nationwide competition that concluded last night at San Francisco’s Bently Reserve. Based in Seattle, Forward Mobility designs and distributes breakthrough medical mobility products to help users maintain their independence. The company is dedicated to creating high quality jobs for people that are disadvantaged or disabled providing sustainability for the individual and their community.

In total, 13 ‘Newpreneur of the Year’ finalists convened in San Francisco following their strong showings in six regional events held across the U.S. in October. Each finalist presented their business plan to a panel of noteworthy judges and an audience of more than 300 well-known members of the San Francisco business community. Dallas-based DJones Tailored Collection earned second place honors with a $30,000 business grant from Alibaba.com, followed by Miami-based Sole Bicycles who earned a $20,000 grant.

Thirteen finalists were selected to compete in the finale event for a share of $140,000 in business grants among more than 900 initial contest entries. After the rigorous competition the judges selected the following winners:

• Grand Prize: Joel Smith, Forward Mobility, Seattle – $50,000
• Second Place: Drew Jones, DJones Tailored Collection, Dallas – $25,000
• Third Place: Jonathan Ross Shriftman, Sole Bicycles, Miami – $15,000
• Fourth Place: Imran Karim, TrophySkin, Dallas – $5,000
• Fifth Place: Katie Shea & Susie Levitt, FUNK-tional Enterprises, New York – $5,000

The other eight finalists each received a $5,000 business grant from Alibaba.com to recognize their commitment to entrepreneurism and building businesses in the down economy.

“Newpreneurs represent a new breed of entrepreneurs who are using the recession to start a business or develop an idea,” said David Wei, CEO, Alibaba.com. “They serve as catalysts in reinvigorating our current economy, while seizing opportunity with passion and ambition. Alibaba.com established the Newpreneur of the Year contest to help people with big ideas and a deep passion but not necessarily deep pockets. We’re thrilled to honor our final 13 finalists by providing business grants that will help them start or continue to grow their business.”

The contestants were evaluated by an esteemed panel of experts, including David Wei; Kelly Sang, general manager, IBDM, Alibaba.com Americas; David Louie, business reporter, KGO-TV; Jane Berentson, editor, Inc.; and Tom Searcy, author of Whale Hunting; How to Land Big Deals and Transform Your Company and RFPs Suck! How to Master the RFP System Once and For All to Win Big Business.

The event keynote was delivered by Tom Peters, one of the most influential and distinctive voices in the business world and the author of numerous books including In Search of Excellence, which has been dubbed one of the greatest business books of all time. To learn more about the 13 finalists and the ‘Newpreneur of the Year’ contest, please visit www.inc.com/alibaba.

About Alibaba.com Limited

Alibaba.com Limited (HKSE: 1688) (HK.1688) is the global leader in business-to-business (B2B) e-commerce and the flagship company of Alibaba Group. Founded in 1999, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces: a global trade marketplace ( www.alibaba.com) for importers and exporters, a Chinese marketplace ( www.alibaba.com.cn) for domestic trade in China, and, through an associated company, a Japanese marketplace ( www.alibaba.co.jp) facilitating trade to and from Japan. Together, its marketplaces form a community of 45 million registered users from more than 240 countries and regions. Alibaba.com also offers business management software solutions targeting small businesses across China under the "Alisoft" brand and incubates e-commerce talent for small medium enterprises (SMEs) in China through Ali-Institute. Founded in Hangzhou, Alibaba.com has offices in more than 40 cities across Greater China, Japan, Korea, Europe and the United States.

About Inc. magazine

Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. magazine ( www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 724,110, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.