Alibaba.com
Alibaba.com is an e-commerce that distributes and retails consumer goods like electronics, machinery, apparel, food, etc, and serves customers worldwide. They operate at all businesses and customers like B2B (business to business) and B2C (business to customer). It is the largest shopping website in China and a website Tmall.com, which serves customers at all levels and that too branded items to the middle-class group. Alibaba’s growth in its core business has allowed it to expand into new areas. Since serving common people and business-oriented groups from 1999 they have never looked back ever since.
Alibaba has rapidly increased the online market to be the leading manufacturer of smartphone technology in the country and rules over more than 50% of all mobile retail in China and this is not news that most smartphones are manufactured in China till the Covid-19 began and many countries like having emphasized on self-reliance and initiated Make in India project in India. Like any other profit-oriented company Alibaba.com makes most of its revenue from advertising on its various sites.
It has about more than 270 million active buyers and not less than 8 million active sellers who use Alibaba‘s online services every year. Above all this, it gets more than 14 billion annual orders from all over the country. The company connects customers and businesses charging only a small commission, it produces all kinds of raw material and semi-finished and also finished products to enterprises and retails for sale and only tries to elevate the low-income groups and companies.
Alibaba has also launched an app namely the Alibaba.com app that updates audiences and their suppliers to stay up to date on new products and promotions. The Alibaba Group primarily operates in India and has made some huge investments in the country. Since the coronavirus situation has somewhat hindered the Indian relation with China so start-ups like Big basket, Paytm, and Zomato have taken up the space for online orders for food, clothing, online payments, etc.
What strategies it uses?
Jack Ma started the company in 1999 with $60,000 raised from around 80 friends in Hangzhou in southern China and is now more than $22bn.
Alibaba monetizes its services through four main business segments that it formally names as follows:
- Commerce (formerly Core Commerce)- it is involved in the business and retailing aspect of an enterprise by joining all the small-scale, medium, and large-scale businesses at the one clicks of the mouse and helping them to rise to the top.e-commerce
- Cloud Computing– it includes all the membership aspects or subscriptions for an effective business and reaching beyond the country’s boundaries.
- Digital Media and Entertainment– it includes the larger reach to the audience and all sorts of advertising and entertainment materials to its consumers.
- Innovation Initiatives and Others– initiating all those that were once taboo and supporting the changing environment. It also shows that Alibaba breaks down all the reports and presents the diversity of itself by race, gender, ability, veteran status, and LGBTQ+ identity.
Fascinating fact about the about Alibaba.com is that they also act as an intimidator between businesses for raw material, machinery supply and assembled goods for further manufacturing or supplying.
Our Mission is to make business possible everywhere
They help businesses to transform the way to function in the market, sell and operate and improve efficiencies. They provide the technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to leverage the power of new technology to engage with customers and operate more efficiently.
Alibaba’s ecosystem across the world has reached approximately 1.24 billion for the 12 months ended September 2021. This includes approx. 900 million consumers in the native country and 200 million approx. consumers overseas.
A VISION
They do not believe in size or power; they aspire to last for as long as they can serve people and aim to build the future infrastructure of commerce. They envision reaching more customers by reaching heights as the sky is the limit.
102 Years
For a company to last more than 100 years will be an achievement that only a few companies can claim. The culture, business models, and systems are built to last and achieve sustainability in the long run. Alibaba’s ultimate goal is to create value for society and help find solutions for society’s challenges.
How it all started
Before the breakthrough, Ma faced failed twice to enroll to get into college, got rejected for a job at KFC. Later, he earned his degree in English from Hangzhou Teacher’s Institute in 1984 and became an English and International Trade lecturer at the Hangzhou Dianzi University while juggling a teaching job at a night school. His good hand in English gave him the ticket to go to the United States as an interpreter for a government project where he had his first encounter with the Internet.
He explored and come to realize that the world doesn’t know much of China — even Chinese beer doesn’t exist from the search engines. This led him to think that people should know China through the Internet, founding China Yellow Pages — the first Internet company in the country. At that point, the Internet had begun to spread in China which quickly grew his venture but shut down in some time due to lack of funds.
Before departing for his hometown, Ma visited the Great Wall with 12 former employees inspired him to start Alibaba.com the thought of digital platform which he claimed to “revolutionize the Internet industry”.
The major break in Jack Ma’s career
On 28 June 1999, Jack Ma, with his 17 friends and students founded Alibaba.com at his apartment. Alibaba received a US$25 million investment from Goldman Sachs and SoftBank. Alibaba.com was expected to improve the domestic e-commerce market and a dignified and wider reach platform for Chinese enterprises, especially small and medium-sized enterprises (SMEs), to help export Chinese products to the global market.
In 2002, Alibaba.com became a profitable firm within three years after its launch. Ma wanted to improve the global e-commerce system, Alibaba launched Taobao Marketplace, Alipay, Alimama.com, and Lynx. After much effort and the race to reach the top they never saw failure again. Alibaba’s partnership turned out a major cosmetic product within just 59 Days. It was a new product that was being discovered from local markets and turned out to be one of the fastest launch any new product.
In November 2021, it was reported that throughout its 11-day Singles’ Day sales extravaganza, Chinese e-commerce giant Alibaba Group Holding received a record 540.3 billion yuan in orders, a 14 percent increase over the previous year.
Alibaba Beyond Jack Ma– The other co-founders
- Jin Jianhang – President, Alibaba Group
- Joseph Tsai – Executive Vice Chairman, Alibaba Group
- Lucy Peng – CEO, Lazada
- Cathy Zhang – Married to Jack Ma, a full-time homemaker
- Eddie Wu – Chairman, AliHealth
- James Sheng – Managing Director, Alibaba Singapore
- Simon Xie – Vice President, Alibaba China Investment Team
- Lou Wensheng
- Jin Yuanying
- Zhou Yuehong
- Shi Yufeng
Some Frequently Asked Questions (FAQ’s)
Is it safe to buy from Alibaba?
Since doing any business for import or export in many countries’ customs are very strict and it is stuck due to lack of some payments or papers and takes 3 weeks or more to reach the warehouse. It only happens in B2B only in certain countries but when it comes to B2C things take a week or two to be delivered to your doorstep. So, it is safe but can’t be sure of the delivery time.
Is Alibaba bigger than Amazon?
Well back in around 2014 or 2015 Alibaba was ranked at top of the largest retail market online but Amazon has surpassed all the limits because in 2020 they earned about 88 billion revenues while Alibaba earned 22 billion. In 2017 The CEO of Alibaba Jack Ma said that they only focus on bringing big, small, and medium industries on the digital platform and earn with them, unlike Amazon who wants to sell an airplane one day.
How does it work?
You just have to open or download the app from the play store, register yourself, and simply just shop.
Where is the office of Alibaba.com?
It is located at 969 West Wen Yi Road, Yu Hang District, Hangzhou, China.
What is the status of shopping from Alibaba.com in covid?
According to the situation prevailing, all China-related businesses have been boycotted but there are still some companies that have continued their tie-up with Alibaba.com.
Can a person sell on Alibaba.com?
Alibaba.com is a platform created for people in China to sell at a competitive level with the rest of the world and also employment to people and for a person who is not a resident of the Republic of China can also sell.
What is the net worth of the company Alibaba.com since it opened?
It’s more than 500 billion.
Do they also sell branded perfumes like Dior, Chanel, etc?
Yes, they do.
How safe is it to deal with Alibaba.com as a business?
It depends on the work you do. If you do a business for clothes or stationery or books then it’s easy to do business. But if it’s machinery or heavy pieces of equipment then they might require some paper work else it may get stuck in customs.
Alibaba is derived from the fantasy literature for kids from One thousand and One tales in Arabian Nights and this is a very clever move from the business point of view. True to its name they have reached every corner of the Asian and trans-continental regions; connecting a larger amount of people.
Inspiration to lots of new and young entrepreneurs Jack Ma has always said in many interviews that their competition is not to be the best but creating a platform for a small-scale worker whose only source of income can be improvised and is one of the largest economies (China) has been a great competitor and helping its economy. He has uplifted many people along with others and made them reach the sky.
Alibaba.com has spread its roots around the globe and has prospered ever since. It has reached people and employed many needy and yet it has its feet attached to the ground.
Website :
https://www.alibabagroup.com/en/global/home
Facebook :
https://www.facebook.com/Alibaba.comGlobal/
Instagram:
https://www.instagram.com/alibaba.com_official/?hl=en
Twitter :
https://twitter.com/AlibabaGroup?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Hello, Vidushi here! I have a joyful, passionate approach to writing and love sharing my thoughts on trending topics and listicles, always bringing a fun twist to journalism.
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