Jump to content

Alibaba Group

From Simple English Wikipedia, the free encyclopedia

Alibaba Group Holding Limited
Native name
Alibaba tập đoàn cổ phần khống chế công ty hữu hạn
Company typePublic
ISINUS01609W1027
IndustryTechnology company
Founded28 June 1999;25 years ago(1999-06-28)[1]
Hangzhou,Zhe gian g,China
FounderJack Ma
HeadquartersNo. 969 West Wen Yi Road[2],
Area served
Worldwide
Key people
Products
Services
RevenueIncreaseCN¥853.062 billion[5](US$134.567 billion, 2022)
DecreaseCN¥69.638 billion[5](US$10.985 billion, 2022)
DecreaseCN¥47.079 billion[5](US$7.427 billion, 2022)
Total assetsIncreaseCN¥1.696 trillion[5](US$267.467 billion, 2022)
Total equityDecreaseCN¥1.073 trillion[5](US$169.189 billion, 2022)
OwnerSoftBank Group
Number of employees
254,941[5](31 March 2022)
SubsidiariesSeecompanies and affiliated entities[broken anchor]
WebsiteOfficial websiteEdit this at Wikidata
Footnotes / references
[6]

Alibaba Group Holding Limited,known asAlibaba(Chinese:Alibaba), is a Chinesemultinationaltechnology company.. They started on 28 June 1999, inHangzhou,Zhe gian g. Alibaba focuses on online shopping, retail, the internet, and technology. They help people buy and sell things online like person-to-person, business-to-customer, and business-to-business sales. They also offer digital media, entertainment, shipping, and cloud computing services. Alibaba owns and runs many companies worldwide in various industries.

On 19 September 2014, Alibaba went public on theNew York Stock Exchange,raising $25 billion. This made Alibaba worth $231 billion, which was the biggestinitial public offering(IPO) in history at that time.[7]It's now among the top 10 most valuable companies[8]and ranked the 31st-largest public company globally on theForbes Global 20002020 list.[9]In January 2018, Alibaba became the second Asian company valued at over $500 billion, following its competitorTencent.[10]As of 2022, Alibaba is the ninth-highest-valued brand globally.[11]

Alibaba is one of the biggest retail and online shopping companies worldwide. In 2020, it was also ranked as the fifth-largestartificial intelligencecompany.[12]It's also a majorventure capital firmand investment company globally and the second-largest financial services group afterVisathrough its financial technology arm,Ant Group.[source?]The company runs the largest online marketplaces for business-to-business (Alibaba ), person-to-person (Taobao), and business-to-customer (Tmall) sales.[13]Alibaba has been entering the media business, increasing yearly profits. It also made a big record on China'sSingles' Dayin 2018, the world's largest online and offline shopping day.[14]

History[change|change source]

Early Years[change|change source]

On 28 June 1999,Jack Maand 17 friends started Alibaba, an online business marketplace, in Ma's apartment in Hangzhou, China. In October of the same year, Alibaba got a $25 million investment fromInvestor AB,[15]Goldman Sachs,andSoftBank.The goal of Alibaba was to improve online shopping in China, especially for small and medium-sized businesses, and to help Chinese products sell globally while dealing with challenges from theWorld Trade Organization.By 2002, Alibaba started making a profit. Jack Ma wanted to make global online shopping better, so Alibaba launched other services like Taobao Marketplace,Alipay,Alimama, and Lynx from 2003 onward.[16][17]

WheneBayannounced its arrival in China in 2003, Jack Ma saw them as competition and said no to eBay buying Taobao. Alibaba's companies did better than eBay in China by using existing technology, gaining trust, and offering more services even if they didn't initially make money. Eventually, Alibaba's Taobao Marketplace beat eBay in China, and eBay had to close its China website. After six years, eBay and Alibaba broke even.[16][18][19]

Expansion[change|change source]

In 2005,Yahoo!invested $1 billion in Alibaba, buying a 40% company share.[16][19]When Alibaba went public, Yahoo! made $10 billion from their investment alone.[18][20]In 2012,China Investment Corporationled a group of Chinese investors to buy Yahoo!'s 40% share in Alibaba.[21]: 130 

In 2013, Alibaba planned to open traditional stores withWanda Group.[22]They also bought a 25% share inIntime Retail,a Chinese department store chain, in early 2014.[23]In 2017, Alibaba and Intime's founder agreed to take the store chain private for $2.6 billion.[24]

In April 2014, Alibaba invested inLyft,a ride-sharing company,[25]and bought a 50% share ofGuangzhou Evergrande F.C.,a soccer team.[26]In September 2014, Alibaba went public with the biggest IPO in US history, raising $21.8 billion.[27][28][29]

Alibaba was sued in California in 2015 by investors alleging Securities Act violations. The company settled in 2018 for $75 million.[30][31]

In 2017, Alibaba and the International Olympic Committee announced an $800 million sponsorship deal for theOlympic Games.[19][32]In 2018, Jack Ma announced he would step down as chairman to focus on charity work.[33]

Listing[change|change source]

In May 2019,Bloombergreported that Alibaba might raise $20 billion with a second listing inHong Kong.[34]In November 2019, they raised $12.9 billion in this listing, the year's largest offering.[35]On 10 September 2019, Jack Ma stepped down aschairman,andDaniel Zhangtook over.[source?]

In November 2020, The Wall Street Journal said PresidentXi Jinpingstopped Jack Ma's Ant Group IPO.[36]This led to new regulations on tech companies by the Chinese government. Alibaba's stock price dropped in December 2020 due to an antitrust investigation. The government fined Alibaba $2.8 billion in April 2021 for anti-competitive practices.[source?]

During the Singles' Day sales in November 2021, Alibaba received a record $114.4 billion orders.[37]In July 2022, the SEC said Alibaba could be delisted from U.S. stock exchanges if its books weren't examined by 2024.[38]

In December 2022, a Chinese state-owned enterprise invested in two Alibaba subsidiaries controllingYoukuandUCWeb.[39]

Restructuring[change|change source]

In March 2023, Alibaba announced a restructuring plan called "1+6+N". They divided their business into six separate parts:Cloud Intelligence Group,Taobao and Tmall Group,Cainiao Smart Logistics Network,Local Services Group, Alibaba International Digital Commerce, and the Digital Media and Entertainment group.[40][41]Each part would have its CEO and board and could raise money and list on the market.[42]Alibaba also created two new committees under this plan.[43]The Wall Street Journal said Jack Ma and CEO Daniel Zhang discussed this plan while Ma was away.[44]

In September 2023, Cainiao Smart Logistics Network Ltd., Alibaba's logistics arm, applied for an IPO in Hong Kong, possibly becoming one of Alibaba's first units to go public.[45]


References[change|change source]

  1. ↑"Sec Form F-1 REGISTRATION STATEMENT Alibaba Group Holding Limited".Archivedfrom the original on 4 January 2021.Retrieved25 December2020.
  2. ↑"Our offices".Alibaba Group.Archivedfrom the original on 19 December 2018.Retrieved18 December2018.
  3. ↑"Alibaba Group Holding Limited".Alibaba Group.Archivedfrom the original on 21 May 2020.Retrieved14 June2020.
  4. ↑"Beware: Alibaba IPO isn't really selling Alibaba".Alibaba Group.Archivedfrom the original on 14 June 2020.Retrieved14 June2020.
  5. ↑5.05.15.25.35.45.5"Alibaba Group Annual Report 2022"(PDF).alibabagroup.Retrieved26 May2022.
  6. ↑"Alibaba Group Announces March Quarter 2020 and Full Fiscal Year 2020 Results"(PDF).Archived(PDF)from the original on 6 June 2020.Retrieved22 May2020.
  7. ↑Baker, Lianna B.; Toonkel, Jessica; Vlastelica, Ryan (19 September 2014). Orlofsky, Steve; Adler, Leslie (eds.)."Alibaba surges 38 percent on massive demand in market debut".Reuters.Archivedfrom the original on 13 February 2019.Retrieved12 October2017.
  8. ↑"Beijing's battle to control its homegrown tech giants".Today.24 September 2017.Archivedfrom the original on 12 June 2018.Retrieved19 January2020.
  9. ↑Murphy, Andrea (13 May 2020)."Global 2000".Forbes.Archivedfrom the original on 21 December 2012.Retrieved27 August2020.
  10. ↑JAO, NICOLE (25 January 2018)."Alibaba market value hits the $500 billion valuation mark".TechNode.Archivedfrom the original on 24 May 2019.Retrieved25 January2018.
  11. ↑"Revealed: the Kantar BrandZ Most Valuable Global Brands 2022".kantar.Retrieved30 July2022.
  12. ↑Patrizio and James Maguire, Andy (2 July 2020)."Top 100 Artificial Intelligence Companies 2020".datamation.TechnologyAdvice.Archivedfrom the original on 30 September 2020.Retrieved27 August2020.
  13. ↑"Alibaba's Nine Biggest Competitors in Asia".Global From Asia.23 August 2018.Archivedfrom the original on 17 December 2019.Retrieved22 September2018.
  14. ↑Pham, Sherisse (10 November 2018)."Alibaba Singles Day sales top $30 billion".CNN.Archivedfrom the original on 22 April 2019.Retrieved16 November2018.
  15. ↑Andersson, Klas (9 May 2014)."Investors mäktiga miljardmiss i kinesiskt megabolag".Svenska Dagbladet.
  16. ↑16.016.116.2Popovic, Stevan (4 May 2014)."Jack Ma: The man leading the Chinese e-commerce market".Hot Topics.Archivedfrom the original on 12 January 2016.Retrieved17 January2019.
  17. ↑"Alibaba Group".alibabagroup.Archivedfrom the original on 8 May 2014.Retrieved17 January2019.
  18. ↑18.018.1"The Rags-to-Riches Life Story of Alibaba Founder Jack Ma".Inc.2 March 2017.Archivedfrom the original on 3 March 2017.Retrieved17 January2019.
  19. ↑19.019.119.2Chen, Lilu Yilun (19 November 2017)."Quicktake - Alibaba".bloomberg.Archivedfrom the original on 17 January 2019.Retrieved17 January2019.
  20. ↑"Yahoo Could Make Nearly $10 Billion On Alibaba IPO".businessinsider.19 September 2014.Archivedfrom the original on 22 September 2014.Retrieved15 January2021.
  21. ↑Liu, Zongyuan Zoe (2023).Sovereign Funds: How the Communist Party of China Finances its Global Ambitions.The Belknap Press ofHarvard University Press.doi:10.2307/jj.2915805.ISBN9780674271913.JSTORjj.2915805.S2CID259402050.
  22. ↑Hsu, Alex (3 July 2013)."Alibaba to Open Brick and Mortar Stores in Wanda Plazas Across China".BrightWire News.Archived fromthe originalon 13 October 2013.
  23. ↑Mozur, Paul; Fung, Esther (31 March 2014)."Alibaba to Pay $692 Million for Stake in Intime Retail".The Wall Street Journal.Archivedfrom the original on 15 January 2020.Retrieved19 January2020.
  24. ↑Lin, Liza; Becker, Nathan (10 January 2017)."Alibaba Bags Chinese Retailer Intime in $2.6 Billion Deal".The Wall Street Journal.Archivedfrom the original on 10 September 2018.Retrieved5 March2017.
  25. ↑"Lyft Raises $250 Million From Coatue, Alibaba, And Third Point To Expand Internationally".TechCrunch.2 April 2014.Archivedfrom the original on 17 February 2019.Retrieved17 January2019.
  26. ↑"Alibaba Buys Into Soccer Team After Billionaires' Drinks".bloomberg.5 June 2014.Archivedfrom the original on 17 January 2019.Retrieved17 January2019.
  27. ↑Zhang, Yuejiao (2017)."Assessing Attitudes Toward Content and Design in Alibaba's Dry Goods Business Infographics".Journal of Business and Technical Communication.31:30–62.doi:10.1177/1050651916667530.S2CID64309912.
  28. ↑Demos, Telis; Jarzemsky, Matt (18 September 2014)."Alibaba's IPO Priced at $68 a Share".The Wall Street Journal.Archivedfrom the original on 26 October 2014.Retrieved19 January2020.
  29. ↑"Alibaba prices at $68, becomes top U.S. IPO".USA Today.18 September 2014.Archivedfrom the original on 15 January 2019.Retrieved18 September2014.
  30. ↑"Alibaba Enters into a $75 Million Settlement Deal; Shares Climbed 2% in Pre-market".capitalwatch.Archivedfrom the original on 7 February 2019.Retrieved5 February2019.
  31. ↑"Alibaba settlement"(PDF).11 January 2019.Archived(PDF)from the original on 7 February 2019.Retrieved5 February2019.
  32. ↑"Alibaba Olympics Sponsorship Deal Said to Be Worth $800 Million".bloomberg.19 January 2017.Archivedfrom the original on 17 January 2019.Retrieved17 January2019.
  33. ↑"China will struggle to produce another Jack Ma".The Economist.Archivedfrom the original on 25 December 2018.Retrieved17 September2018.
  34. ↑"Alibaba Weighs Raising $20 Billion Through A Second Listing".Bloomberg.27 May 2019.Archivedfrom the original on 29 May 2019.Retrieved29 May2019.
  35. ↑"Alibaba shares surge in Hong Kong debut, world's largest listing so far in 2019".CNBC. 25 November 2019.
  36. ↑Jing Yang and Lingling Wei (12 November 2020)."China's President Xi Jinping Personally Scuttled Jack Ma's Ant IPO".The Wall Street Journal.Archivedfrom the original on 13 November 2020.Retrieved24 December2020.
  37. ↑"Alibaba takes in record $114.4 billion in Singles' Day sales".The Straits Times.12 November 2021.ISSN0585-3923.Archivedfrom the original on 12 November 2021.Retrieved12 November2021.
  38. ↑Chan, Michelle (29 July 2022)."SEC Adds Alibaba to List of Chinese Companies Facing Delisting".The Wall Street Journal.ISSN0099-9660.Retrieved30 July2022.
  39. ↑"China acquires 'golden shares' in two Alibaba units".Reuters.13 January 2023.Retrieved15 January2023.
  40. ↑"Alibaba to overhaul China's biggest tech conglomerate into 6 units to reignite their entrepreneurial mojo as 'start-ups'".Yahoo Finance.South China Morning Post. 28 March 2023.Retrieved25 November2023.
  41. ↑Huang, Raffaele; Leong, Clarence (28 March 2023)."Alibaba to Split Into Six Groups and Explore IPOs in a Departure From Jack Ma Era".The Wall Street Journal.Retrieved28 March2023.
  42. ↑Yordan."Alibaba to restructure as six separate companies".GSMArena.Retrieved29 March2023.
  43. ↑Yang, Ivy (1 June 2023)."Can Alibaba's six-ring circus succeed?".The China Project.Retrieved25 November2023.
  44. ↑Yang, Jing; Lu, Shen (30 March 2023)."Jack Ma Engineered Alibaba's Breakup From Overseas".The Wall Street Journal.Retrieved30 March2023.
  45. ↑"Alibaba's Logistics Arm Files for $1 Billion-Plus IPO".Bloomberg.26 September 2023.Retrieved27 September2023.

Other websites[change|change source]

Wikimedia Commons has media related toAlibaba Group.
Retrieved from "https://simple.wikipedia.org/w/index.php?title=Alibaba_Group&oldid=9494015"