Taobao Crowdfunding has ceased operationsBecause Taobao Crowdfunding is a crowdfunding platform, similar to Kickstarter or Indiegogo, but it is operated by Taobao, which is owned by Alibaba. However, in June 2021, Taobao announced that it would shut down the crowdfunding platform due to changes in traffic and user demand. In addition, Taobao will also shut down its crowdfunding brand Crowdfunding, which was launched in 2019, in order to better focus on other business areas. From a user's perspective, Taobao Crowdfunding has not been used very often because it does not have enough user traffic and is not attractive enough to users. At the same time, we should also note that Taobao Crowdfunding, as an emerging business model, is not as successful as other mature crowdfunding platforms in the Chinese market. ContentLoaded