Alibaba is a Chinese multinational company, specializes in retail, e-commerce, technology, and the internet. It was founded in the year 1999 in Zhejiang by Jack Ma and his team of 17 friends. The company provides business to business, consumer to consumer, and business to consumer sales service through web portals, shopping search engines, electronic payment services, and cloud computing services. It is grown to the largest e-commerce & Retail Company, developed to the largest internet & artificial firm, and established into a major investment corporation in the world. Jack Ma is a man who has inspired the entire internet industry and has impacted the economy of China almost single-handedly. From 1999 to 2019, he, with his friends, expanded the company into the media industry by raising the revenue by triple percentage year after year.
What Inspired Jack Ma
Jack Ma went to the United States in the early 1990s and learned about the internet, which was not embraced in China. On return, he thought about tapping into the unexplored area of the World Wide Web. He got an idea to launch himself in the uncharted water with Alibaba. With a primary investment of $5 million and 17 co-founders, he introduced Alibaba’s online retail platform in the market of China. The launch of 1688.com (B2C) and Alibaba.com (B2B) was opportunely scheduled.
Touching the Success
Along with the other members of the hailed BAT group, Alibaba was profited on a greater note from the authoritarian internet-controlling policies of China. In 2005, Alibaba entered into a strategic partnership with Yahoo and consequently took over its operations in China. In the following three years, Alibaba launched three more ventures, named as Alimama, TMall, and Taobao University. Furtherly, the company in 2009 celebrated its 10th anniversary by inaugurating Alibaba Cloud and obtaining China’s leading IP provider HiChina. Since 2013, Alibaba has grown among the most prolific investors in the world. It holds a diverse portfolio, including companies from America to Asia and everywhere around the world. In September 2014, the founder thought to grab the global headlines and offered initial public offerings (IPO) of $25 billion at the market value of $231 billion. The news was in the headings as it was the biggest U.S. IPO in history. It helped the company in reaching among the 23rd most valuable company in the Poor and Standard Index. In January 2018, the company became the second Asian business to overlap the $500 billion valuation score when it crosses the market value of $527 billion. In the meantime, gratitude towards its remarkable research division, Alibaba has become the leader of the artificial intelligence revolution in the world through machine learning to marketing, customer service, and power sales during its annual global festival of shopping.
Overall, Alibaba witnessed a gradual success globally over the years. Support from the market, as well as the customer demand, made it one of the most successful businesses on the globe.