In the 19th of September, founder and chairman Jack Ma rang the opening bell in The New York Stock Exchange. Alibaba is now valued at $231.4bn – making it significantly larger than Amazon and Facebook.Yet Alibaba remains a mystery and an unknown quantity to most investors, business people and consumers located outside of China.
Firstly, what Alibaba is and what it does. Alibaba is the largest e-commerce company on Earth– bigger than Amazon and eBay combined. Alibaba’s two largest and best known platforms are T-Mall and Tao Bao. It is the platform where people go to sell things and where people go to buy things. The company itself has no desire to sell products. In other words, all the sales are down through Alibaba, not by Alibaba. That is the biggest difference between Amazon, eBay and Alibaba.They make money by advertising selling advertising to the merchants who are selling on their market places and other e-commerce services.
How can Alibaba be so successful in fifteen years? For one thing, they created Alipay. Alipay has been called the Paypal of the East, but I think that it is more than this. I would say that Alipay provides a wider service than PayPal. My mom is a Alipay user. She uses it to transfer money, pay her bills, check her bank balance and add money to her phone account. However, it seems like she only use Paypal when she goes shopping on ebay. For another, nobody can ignores the power and influence that Jack Ma gives to the Alibaba Group. He has revolution eyes how retailing is done in China and how economy recovery in China. That is the reason why he created the company. His colleagues described him as an idealistic, optmistic, competitive, innovative and resilient. He measures his life by how positive an effect he has on the lives of others.
Work Cited: http://www.bbc.com/news/business-29282407