Alibaba Group is a Chinese ecommerce giant headquartered in Hangzhou. Established in 1999 by Jack Ma, Alibaba is now the biggest B2B platform in China. It launched Taobao (C2C) in 2003 and Tmall (B2C) in 2008.
Name: Alibaba Group
Corporate Website: www.alibabagroup.com
B2B Website: http://www.alibaba.com/
B2C Website: http://www.tmall.com/
C2C Website: http://www.taobao.com/
Founder: Jack Ma (Net worth: 21.9 billion USD valued by Forbes)
Core Business: ecommerce, online payment, etc.
- Alibaba’s consumer-to-consumer portal Taobao, similar to eBay.com, features nearly a billion products and is one of the 20 most-visited websites globally.
- As of October 2013, Tmall was the 8th most visited web site in China, offering global brands to its increasingly affluent Chinese consumers.
- In 2013, Alipay, an online payment service, accounted for roughly half of all online payment transactions within China.
- In 2014, Alibaba reported sales revenue of more than $9 billion on China’s Singles’ Day on Tmall.
- In September of 2014, Alibaba’s IPO was valued at US$68 which raised a total of US$21.8 billion for the company and its investors. Alibaba was the biggest U.S. IPO in history.
Alibaba is the world’s biggest online B2B trading platform. Its 3 subsidiaries are as follows:
1. alibaba.com (English website): handles sales between importers and exporters from more than 240 countries
2. aliexpress.com (multiple languages support): allows buyers to purchase smaller quantities of goods at wholesale prices
3. 1688.com (Chinese website): takes care of domestic B2B trades
Taobao is China’s largest C2C ecommerce website. Starting from 2012 onward, Taobao began to accept international credit cards like Visa and MasterCard. Previously, they only accepted domestic cards and AliPay.
Tmall is China’s biggest B2C online shopping platform. The website offers users products from verified international and local brands including luxury products. In 2014, Burberry became the very first high-end brand to open a flagship store on Tmall. Coach followed shortly after in 2015.
Juhuasuan is a group shopping website in China that offers flash sales. Products are available only for a limited period of time, which can last anywhere from one or two days to a full month. Buyers must purchase the item within that time period to get the discounted price.
Alipay is a third-party online payment platform that does not charge transaction fees. Launched in 2004, the platform allows buyers the option to receive the product before transferring money to the merchant.
In 2015, Alibaba entered into a joint venture with Singapore Post Limited i.e. “SingPost”. Over the past year, these two companies have worked closely together to explore cross border ecommerce opportunities and logistics solutions. This collaboration signified Alibaba’s commitment to expand its global logistics footprint. This will in turn help Chinese businesses sell and distribute their products around the world.
Alibaba has recently announced that it will open an international business division in Singapore. This move shows a commitment to bolster Alibaba’s international expansion.