The Alibaba Group Holding Limited (BABA) is a multinational conglomerate that specialises in mobile and online commerce. Alibaba offers a technology infrastructure that helps merchants and brands transform how they do their business and engage with their customers, in a new way.
The company operates in China and internationally, spanning over 200 countries worldwide. Alibaba provides popular wholesale and retail marketplaces, including the Taobao online shopping destination, Tmall brands and retail platform, Aliexpress global consumer marketplace and the 1688.com wholesale marketplace.
Founded in 1999, in Hangzhou, Zhejiang, China. The idea began as the brainchild of Jack Ma, the group’s former CEO and current chairman. Whilst visiting friends in the US in 1995, he became introduced to the concept of the internet. Realising there was very little Chinese representation on the web, along with his wife, he began to develop web-based solutions for the region.
The first attempt – Chinese Yellow Pages – didn’t lead to success, however 4 years later in 1999, Ma created Alibaba along with 17 of his closest friends. The company’s first capital came from Goldman Sachs and SoftBank who invested $5 and $20 million, respectively.
By the time the company underwent its initial public offering (IPO) in 2014, its market value was $231 billion. In January 2018, the company hit the illustrious market cap level of $500 billion.
Jack Ma, the now billionaire behind Alibaba, is often described as “not your typical tech CEO”. A former English teacher from Hangzhou, Ma began studying English in childhood, using every opportunity to connect with foreign tourists who visited his region.
Ma is both known for his success and resilience in the face of challenges – it took him 4 attempts (4 years) to enter university to study English. Graduating with a BA in 1998, he then went on to become a lecturer of the subject.
This resilient spirit ensure that he did not give up when his first internet-based project flopped. Instead he continued and established the success that is Alibaba.
The following brands are owned by Alibaba:
Alibaba is traded on the New York Stock Exchange under the ticker BABA. Get the Alibaba share price and keep update with BABA chart movements with Capital.com.
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