What is Alibaba? Here are 11 things you need to know about the Chinese … – TVN 24 Business and World

What is Alibaba? Here are 11 things you need to know about the Chinese … – TVN 24 Business and World

Source: TVN 24 Business and the World Employees Alibaba celebrate debut on the stock exchange in New York

Here are 11 things you need to know about the Chinese giant:

1. Domination. Alibaba Group is the largest company in the industry of e-commerce in China. It controls 80 percent. of the market. Its three main parties – Taobao, Tmall and Alibaba.com – have hundreds of millions of users. Alibaba supports more businesses than any other company in the e-commerce world. The company’s revenue in 2013 amounted to 5.7 billion dollars.

2 activities. Alibaba’s activity is based on creating a platform and e-shopping, where users can sell their own products. But does not sell goods directly to Amazon, but it works more on a bazaar, both in relation B2B (business to business) and B2C (business to consumer).

3. Transactions. Alibaba is the most popular place to shop online, and China is the fastest growing market for Internet commerce. Transactions made on pages Alibaba reached in the previous. Was 248 billion dollars, more than eBay and Amazon combined.

4. Assortment. Taobao Alibaba is the largest platform for shopping. It is home to approx. Seven million shops selling almost everything from clothes to electronics on airplanes. Among the strangest things available on the site include, among others armored vehicle with water cannon, pregnant cow Holstein-Friesian breed or boat grill in the shape of a donut.
Users benefit from purchasing platform for free, but the seller can pay for your ad to stand out from the crowd.

5. Other services. Alibaba also provides financial services. With this application, Alipay can buy tickets to the theater, pay for taxis and invest in a fund called Yu’e Bao. He gathered as much as 87 billion dollars. Alibaba also has a web travel agency Byecity.com.

6. Investments. In June, Alibaba bought from the developer company Evergrande Real Estate Hui for 1.2 billion yuan (192 million) shares in Guangzhou Evergrande – najpopularnejszej football team in the Middle Kingdom. The transaction was concluded in 15 minutes, when the presidents of the two companies met for a drink.

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In March, the Chinese have advised to invest 692 million dollars in Inim Retail, a company which has department stores and supermarkets. In May the company bought a 10 percent stake in Singapore Post, to expand its logistics in Southeast Asia.

7. Leader. Jack Ma, founder of Alibaba is also its spiritual leader. When a company needs innovation, this former English teacher returns to her old apartment to look for inspiration. He has stepped down as head of the company, but the company’s corporate structure has allowed him to retain control of the company after its debut on the stock exchange in New York.

8. Assets. Jack Ma has approx. 9 percent stake in Alibabie, what with a net worth of more than $ 10 billion making it one of the richest people in China.

9. Philosophy. Jack Ma, in a letter attached to the prospectus, warns against the ruthlessness of the capital markets and promises that the company will remain true to his principles and always will give priority to customers above the shareholders.

10. Challenges. World goes towards mobility, so Alibaba wants to be competitive in the huge Chinese market smartphone users. Alibaba is the biggest rival Tencent, ie Facebook, Amazon and Twitter all in one. It has over one billion users and in terms of its profits is the fifth company in the world website (after Google, Amazon, eBay and Facebook). Offers several services, including social, e-commerce, on-line games and store data in the cloud. Tencent value is approx. 148 billion.

10. Fakes. Many brands claim that the parties Alibaba – especially Taobao – are full of fakes. Alibaba says it spends millions of dollars annually to combat these practices.

Author: TOL // km / Source: Wall Street Journal