Alibaba Group Holding Limited is a Chinese e-commerce company that provides consumer-to-consumer,
business-to-consumer and business-to-business sales services via web portals.
It also provides electronic payment services, a shopping search engine and data-centric cloud computing services.
The group began in 1999 when Jack Ma founded the website Alibaba.com, a business-to-business portal to connect Chinese manufacturers with overseas buyers. In 2012, two of Alibaba’s portals handled 1.1 trillion yuan ($170 billion) in sales.
Suppliers from other countries are supported (with more stringent checks than for Chinese companies),
but the company primarily operates in the People’s Republic of China (PRC).
At closing time on the date of its initial public offering (IPO),
19 September 2014, Alibaba’s market value was US$231 billion.However, the stock has traded down and market cap was about $212 billion at the end of December 2015.
It is the world’s largest retailer as of April 2016 surpassing Walmart,
with operations in over 200 countries, as well as one of the largest Internet companies.
Alibaba has been generating more gross merchandise volume (GMV) than Amazon and eBay combined. Its online sales and profits surpassed all US retailers (including Walmart, Amazon and eBay) combined since 2015.
It has been expanding into media and entertainment industry, with revenues rising 3-digit percents year on year.
In September 2013, the company sought an IPO in the United States after a deal could not be reached with Hong Kong regulators.
Planning took over 12 months before the company’s market début in September 2014, with Reuters Instrument Code “BABA.N”.
The pricing of the IPO initially raised US$21.8 billion,which later increased to US$25 billion, making it the largest IPO in history.
Buyers were actually purchasing shares in a Cayman Islands shell corporation, not in the Alibaba group, as China forbids foreign ownership of its companies.-justplay18
On 8 June 2017, Alibaba hosted the first day of its 2017 Investor’s Days,
causing its market cap to surge to USD$360 billion, due to growing confidence with the company.
The company also reported sales growth forecast which topped every analyst’s estimate,
while at the same time surpassing Tencent to become Asia’s most valuable company.
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The world’s most profitable company announced that the annual profit