Alibaba Group

Enables businesses to transform the way they market, sell, operate

Summary

Alibaba Group’s mission is to make it easy to do business anywhere.

They enable businesses to transform the way they market, sell, operate and improve their efficiencies. They provide the technology infrastructure and marketing reach to help merchants, brands and other businesses to leverage the power of new technology to engage with their users and customers and operate in a more efficient way.

History

Founded on 4 April 1999, in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via web portals, as well as electronic payment services, shopping search engines and cloud computing services. It owns and operates a diverse portfolio of companies around the world in numerous business sectors.

On 19 September 2014, Alibaba’s initial public offering (IPO) raised US$25 billion, giving the company a market value of US$231 billion and, by far, then the largest IPO in world history. It is one of the top 10 most valuable corporations, and is named the 31st-largest public company in the world on the Forbes Global 2000 2020 list. In January 2018, Alibaba became the second Asian company to break the US$500 billion valuation mark, after its competitor Tencent. As of 2020, Alibaba has the sixth-highest global brand valuation.

Alibaba is the world’s largest retailer and e-commerce company, and on the list of largest Internet companies. In 2020, it was also rated as the fifth-largest artificial intelligence company. It is also one of the biggest venture capital firms, and one of the biggest investment corporations in the world. The company hosts the largest B2B (Alibaba.com), C2C (Taobao), and B2C (Tmall) marketplaces in the world. Its online sales and profits have surpassed all US retailers (including Walmart, Amazon, and eBay) combined since 2015. It has been expanding into the media industry, with revenues rising by triple percentage points year after year. It also sets the record on the 2018 edition of China’s Singles’ Day, the world’s biggest online and offline shopping day.

Vision

Alibaba vision statement is “to build the future infrastructure of commerce. We envision that our customers will meet, work and live at Alibaba and that we will be a company that lasts at least 102 years.”

Mission

Alibaba mission statement is “to make it easy to do business anywhere.”

References

https://www.crunchbase.com/organization/alibaba

https://mission-statement.com/alibaba/

https://www.bloomberg.com/profile/company/BABA:US

https://www.linkedin.com/company/alibaba-group/

https://alibabagroup.com/assets2/pdf/Alibaba_Group_Corporate_Overview_Eng.pdf