Alibaba launches mobile chat app

Market becomes more crowded as leading e-commerce firm joins

China's market for mobile chat applications has never been so crowded especially after Alibaba Group Holding Ltd - the country's largest e-commerce company - officially joined the fray on Monday with the launch of its first social networking app.

The app named Laiwang, which means come and go in Chinese, is the first product unveiled to the public after the company announced an internal restructuring program earlier this month with a strong focus on the mobile Internet business.