Recently, I have read the article (Tmall) that was written by Cindy, one of my best friends. And I agree with her points for the following reasons.
Not surprisingly, China’s largest e-commerce company, breaks one-day sales record by more that 80 percent as it heads toward an IPO( Initial Public Offering) that may be valued higher than Facebook Inc (“Alibaba breaks sales,” 2013). Tmall and Taobao are two main platforms of Alibaba, one of the largest e-commerce companies in the world, topped 35 billion Yuan ($5.75 billion) in the 24-hour period on China’s Singles’ Day, a local twist on Valentine’s Day.
For example, as for me, an international student from China, I also asked my mom to buy me a pair of shoes online on November 11. This is a stunning example, but it is common because incomes rise across China, and the popularity in China is extremely huge.
Recently, it has been valued by analysts at as much as $190 billion, compared with Facebook’s $104 billion valuation after its market debut.
The company is moving toward an IPO in the United States, which means the shares of stock in the company are sold to the general public for the first time. There are lots of advantages of IPO, for instance, raising expansion capital, monetizing the investments of early private investors, etc. In my opinion, it will be a potential market for Chinese customers, because shopping online is so convenient compared to shopping in a departmental store.
Reference:
Alibaba breaks sales record amid china singles-day rebate. (2013, November 12). Bloomberg. Retrieved from http://www.bloomberg.com/news/2013-11-11/alibaba-breaks-sales-record-on-china-singles-day-amid-discounts.html
https://blogs.ubc.ca/zhujunye/