History of Alibaba Group Holding Limited
Alibaba Group Holding Limited (AGHC) is the largest Chinese e-commerce company and the biggest Internet company in the world. AGHC was founded in 1999 by Jack Ma and Joe Tsai, who also founded Alibaba.com, China’s first online shopping mall. In 2008, AGHC acquired a 51% stake in Yahoo! China, which gave it full ownership of Alibaba.com.
AGHC operates Taobao Marketplace, China’s largest online shopping platform with more than 200 million active buyers and 160 million registered products. The company also owns Tmall, China’s second largest online shopping platform with 100 million active buyers and 40 million registered products. AGHC also operates 19 other businesses including an online bank, a food delivery service, and a transport network.
In September 2013, AGHC announced that it had agreed to merge its wholly owned subsidiary Alipay with PayPal Holdings Inc.’s payment subsidiary PayPal (PPH). The deal was worth $2 billion and created the world’s first global digital payments platform.
What is Alibaba Group Holding Limited?
Alibaba Group Holding Limited (NYSE: BABA) is the holding company for Alibaba Group, one of the world’s largest online and mobile commerce companies. As a global provider of innovative technology, services, and ecosystems, Alibaba Group touches more than 900 million lives monthly through its websites and mobile apps.
Alibaba Group Holding Limited was founded in 1999 as a business incubator and has since grown to become one of Asia’s most valuable tech companies. The company operates two primary businesses: an online and mobile commerce platform, and a cloud computing business. The company also offers a range of other services including advertising, payments, digital media, logistics, and big data.
In fiscal year 2016, Alibaba Group Holding Limited generated revenue of US$25.1 billion. The company has more than 240 million active customers and 766 million registered users on its various platforms. In addition to its home country of China, Alibaba Group Holding Limited operates offices in Hong Kong, Singapore, New York City, London, Tokyo, Melbourne, Madrid, Paris and Sao Paulo.
What are the Business Activities of Alibaba Group Holding Limited?
Alibaba Group Holding Limited is a Chinese business conglomerate with businesses in commerce, computing, finance, digital media, and other sectors. The company was founded in 1999 by Jack Ma and has since become the largest online and mobile commerce company in the world. The company’s flagship product is the Alibaba Cloud, an electronic commerce platform that allows businesses to operate their businesses through a global network. In addition, the company has investments in various other businesses including: Cainiao Subsidiary, Credit Suisse Securities (Asia) Limited, Japan Tobacco Inc., Tencent Holdings Limited, and SoftBank Group Corp.
Recent Developments of Alibaba Group Holding Limited
The company was founded in 1999 by Jack Ma and serves as the parent company for several other businesses, including Tmall.com, Taobao Marketplace, and Alibaba Cloud.
including a $2 billion purchase of online fashion retailer Zara in 2014 and a $25 billion acquisition of food delivery service Sequoia Capital-backed Meituan in 2016. In 2017, the company announced plans to invest up to $5 billion into new businesses over the next five years.
Conclusion
Alibaba Group Holding Limited, also known as Alibaba, is a Chinese business conglomerate with operations in numerous industries. These include e-commerce and Internet services, offline retail and wholesale markets, digital banking and finance, mobile payments, food delivery, cloud computing and big data. The company has been named the fourth most valuable public company in the world by Forbes magazine.
