Alibaba Group Holding Limited is a e-commerce giant with operations in core commerce, innovation initiatives, cloud computing, payment solutions, and digital media and entertainment.
Based in China, it provides an online platform for consumers, retailers and business entities to engage with the customers and operate efficiently.
The company was founded by a team headed by former teacher Jack Ma in 1999. The e-commerce company was initially formed to help small businesses grow and compete with counterparts in both the domestic and international markets using modern technology and innovations.
Alibaba Group went public in 2014 and was listed on the New York Stock Exchange. The stocks are traded under the ticker symbol ‘BABA’.
The company’s operations comprise three core businesses under Alibaba.com, Taobao.com, Tmall.com, which are e-commerce websites targeted at different audiences.
• Alibaba.com: Launched in 1999, it is a business-to-business trading platform that connects retailers or manufacturers with consumers worldwide.
• Taobao.com: It was launched in 2003 and is a shopping website catering to merchants and consumers.
• Tmall.com: It is an online retail platform that offers local and international brands to consumers and businesses. It was launched in 2003 as a third-party e-commerce platform.
The group runs a vast business ecosystem through websites such as Juhuasuan.com, Aliexpress.com and 1688.com. It also provides online payment services through Alipay.com.
In 2019, the company launched Alibaba Business Operating System as a holistic one-stop solution for accelerating companies’ digital transformation.
The company acquired majority ownership of Alibaba Pictures in March 2019. It reportedly launched an eWTP (electronic World Trade Platform) hub in Yiwu, Zhejiang province, to help small and medium-sized enterprises in global trade. Alibaba Group acquired Kaola, a Chinese import e-commerce platform, in 2019.
Recently, in September 2020, the company declared its New Manufacturing model and unveiled its Xunxi Digital Factory. As part of its New Retail Strategy, the group acquired a controlling stake in Sun Art, a supermarket and hypermarket chain operator in China, in October 2020.
It is officially listed on the Hong Kong Stock Exchange.