China's Alibaba becomes major sponsor of Olympics

Alibaba executive chairman Jack Ma, attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 18, 2017. REUTERS/Ruben Sprich

DAVOS, Switzerland (Reuters) - Chinese e-commerce company Alibaba has become a major sponsor of the Olympic Games after signing a deal with the International Olympic Committee (IOC) that runs until 2028, the two parties said on Thursday

Alibaba, which becomes the official e-commerce and cloud services partner, joins 12 other companies - including Coca-Cola and McDonald's - as top Olympic sponsors.