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Jack Ma’s Alibaba.com
In less than two decades, a company can beat the potential of competitors like Amazon and Google. In the nineties, Jack Ma visited the United States and was introduced to the Internet. He instantly recognized the immense potential of the Internet. After a few years, Jack Ma raised a fund of five million at an investment summit and founded Alibaba Group with 17 other partners.
Alibabaâs online retail platform alibaba.com (Business to business) and 1688.com (Business to Customer) were set up at the right time because the Internet was still stepping into China, and the fiasco of dot.com had not made a severe impact on the Chinese domestic market as it made on the US. The beginning of the twentieth century brought good omens for Alibaba, and they received a fund of as much as 20 million from an investors group named SoftBank. A year later, Alibaba founded taobao.com (Customer to Customer Platform) in China, like ebay.com. Since then, the company has never looked back.
The company received good funding in the second round and established instant messaging tool Ali wang and third-party online payment platform Ali pay. These were the three businesses that would eventually grow into a trio of e-commerce, logistics, and finance and were proven the companyâs foundation. Alibaba benefited the most from the Chinese governmentâs strict Internet control policy. The internet filtering and censorship engine called The âGreat Firewallâ smashed companies like Google and Yahoo.
Taking advantage of the countryâs pro-local policies, Alibaba partnered with Yahoo in 2005 and gradually acquired its Chinese operations. In 2009, the company founded âAlibaba Cloud and celebrated its tenth anniversary acquiring the premier Chinese IP provider âHigh China.â in the following years, a company established Taobao University (online learning platform), Timol (marketplace of third party products), Alimama (online marketing platform).
After 2013, Alibaba has become one of the worldâs leading investors. Its vast portfolio includes companies from Asia to the United States. Alibaba bought UC Browser, a Chinese web browser, and announced a vision statement of investing 60% in China Vision Media, a Chinese film company. In September 2014, the company became the âTalk of the Townâ by offering an IPO worth $25 billion at a market value of $231 billion. It was the most extensive IPO offering in the history of the US IPO.
In 2015, the company invested an additional $12.5 billion, a significant gain for Snapdeal and One97 Communications (Paytmâs parent company). Since entering the Indian investment market in 2014, Alibaba has invested nearly $2 billion in various companies, including Big Basket, Zomato.
Alibaba made history in January 2018, becoming the second Asian company to receive a valuation of $500 billion. The company succeeded in leading artificial intelligence research because of the companyâs excellent research division, Ali research. The company also signed agreements to design augmented reality experiences for Starbucks-Shanghai, the largest Starbucks chain store.
Although being one of the worldâs top companies, Alibaba never compromised its principles. In 2010, the company announced that it would donate 0.3% of its revenue to create environmental awareness that reached $47.1 million in 2015.
A small company started in a small apartment in Hangzhou city by an English teacher, and Jack Ma has now transformed into an empire valued at $ 500 billion. Alibaba, which has reached the milestone in less than two decades under the leadership of Jack Ma, is inspiring for every young entrepreneur.
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