Alibaba Company profile
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Alibaba Group Holding Limited (BABA) is a Chinese multinational conglomerate that specialises in retail, e-commerce, technology, artificial intelligence and the internet. Founded in 1999, the company provides consumer-to-consumer (C2C), business-to-business (B2B) and business-to-consumer (B2C) sales services via web portals, as well as electronic payment services, cloud computing services and shopping search engines.
Its most popular wholesale and retail marketplaces include the Taobao online shopping destination, Tmall brands and retail platform, Aliexpress global consumer marketplace and the 1688.com wholesale marketplace. The firm operates in China and internationally, spanning over 200 countries worldwide.
Alibaba Group stock is listed on the New York Stock Exchange under the ticker symbol BABA and the Stock Exchange of Hong Kong under the ticker 9988.
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Alibaba was established in Hangzhou, Zhejiang, China, in 1999. It was initially created as a China-based B2B marketplace site by Jack Ma, the group’s former CEO and current chairman, along with 17 of his closest friends. The company’s first capital came from Goldman Sachs (GS) and SoftBank who invested $5 million and $20 million respectively.
The business achieved profitability for the first time in 2002. From 2003 onward, Alibaba launched its famous Taobao Marketplace, Alipay, Alimama.com and Lynx.
Throughout its history, the firm has made a number of acquisitions to diversify its business portfolio and expand its market presence. Some of the most prominent purchases made by Alibaba Group were AutoNavi in 2014, the South China Morning Post in 2015, Eleme in 2018, NetEase’s Kaola in 2019 and Keruyun in 2020.
Singapore-based Lazada Group SA was one of the biggest Alibaba Group acquisitions. Alibaba took control of the company in April 2016 in a $1 billion deal with its founder, Rocket Internet, followed by another $1 billion in June 2017. In March 2018, the business announced that it would invest an additional $2 billion in Lazada, adding to an 83 per cent stake in the firm.
Today, Alibaba Group owns and operates a diverse array of businesses in numerous sectors worldwide. It is one of the globe’s largest retail and e-commerce companies, as well as internet and artificial intelligence companies. Moreover, the business is one of the biggest venture capital firms and investment corporations across the world.
With Capital.com’s Alibaba stock chart, you can not only quickly view the price of a share in BABA stock today, but also trace the company’s shares value in historic terms.
The history of the Alibaba Group Holding Ltd stock is extensive. The company first went public on the Stock Exchange of Hong Kong in 2007. It was then delisted in 2012.
On September 18, 2014, Alibaba debuted as a publicly-traded company in the US. With its stock priced at $68 per share, the business raised around $25 billion, making it the biggest US IPO in history at the time, larger than Facebook, Google and Twitter combined. On September 19, Alibaba shares started trading on the New York Stock Exchange, with the opening Alibaba stock quote of $92.70.
Ever since its IPO on NYSE, BABA stock has experienced many price fluctuations. In a matter of a few years, it surged from $59 per share in September 2015 to $208 per share in June 2018. It then wobbled back and forth, with the price of Alibaba share dropping as low as $132 in December 2018 and rising as high as $227.43 in January 2020.
In January 2018, Alibaba became the second Asian company to break the $500 billion valuation mark, close on the heels of its key rival Tencent (0700).
In November 2019, the e-commerce giant raised $12.9 billion in its secondary listing in Hong Kong after pricing its shares at HK$176, or $22.5 per share.
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|Industry: ||E-commerce & Auction Services |