http://www.bloombergview.com/quicktake/alibaba
Alibaba,a Chinese e-commerce company settled on New York as the venue for its IPO on Sept 18th .Surprisingly, it made a big success and MaYun, who founded Alibaba,has become the richest man in China.
Alibaba’s idea comes from ebay and Ma caught this choice to open the online shopping market in China.I think that there are some reasons that make Alibaba so successful today.
Mass market:China is a quiet big market for online shopping because of the large population in China and for people who don’t have much time to go shopping.Online shopping is a good choice
Low price:Alibaba use a website called Taobao to let sellers to open their online shops to sell products.These products are often much cheaper than the same thing in the shopping mall because there are no middle men.So consumers prefer it.
Combining other services:Alibaba is creative that it also has a platform to provide a personal banking account called Zhifubao.By using this,people can transfer their money from bank and use it to pay .They will also gain interest,higher than they can get from bank.
Alibaba is a successful e-commerce company in the world.However,if it cannot benefit consumers more,it may not maintain its status.