History of Alibaba from the 90s to the present day: when obstacles help to move towards the goal
Many Russian-speaking users know the Alibaba Group as the owner of a successful AliExpress online store. At the same time, the story of Alibaba has many ups and downs. The corporation includes more than a dozen innovative brands originally from the Middle Kingdom. Among them, for example, the film company Alibaba Pictures and even the portal Yahoo! China.
Long history of Alibaba: Jack Ma, the first Chinese on Forbes cover
Jack Ma in Hangzhou founded Alibaba Company. And it happened in 1999. Jack at the time was a graduate of the pedagogical college and sat without money.
Therefore, I was puzzled by the question: where to buy something and sell profitably. But in those days there was not a single worthy Site for commerce. So the idea was born to create a trading platform on the Internet.
Alibaba store had a B2B concept. Jack Ma invited to his platform medium and small traders who paid a percentage of sales. This business model, as it turned out, had a number of prospects: you can earn income without trading on your own. Soon a whole pool of local investors appeared around the business who believed in the project.
In 2000, the site attempted to enter the US market. According to Jack Ma, this almost led the company to shutdown. But the facts say something else – American investments began to flow into a promising platform (although Alibaba USA really did not succeed in opening). It is known that already in 2000, the financial organizations Goldman Sachs and SoftBank made financial investments in a promising company. By the end of 2001, the company began to make a profit. At this “black bar” in the history of the corporation is over.
The curious fact: at present, about 80% of the whole of Celestial e-commerce occurs at sites belonging to Alibaba Group (namely, Alibaba, Aliexpress, Taobao, Tmall).
The main competitive advantage of the Alibaba Group is the lack of fixation on core businesses and the constant search for new directions. For example, back in 2005, the Americans were Yahoo! acquired a 43% stake in a promising Chinese holding. But in 2012, Jack Ma bought the assets back, which helped the Americans: Yahoo! began to slowly fade away, which is not true of the growing “Alibaba”.
Today, the corporation has one of the largest cloud storage in the region AliCloud. There is also a video hosting service (similar to Youtube) called Youku. Chinese entered the logistics business with the company Cainiao. Did not leave Jack Ma without media attention. The film company from the Alibaba Group has already been mentioned above. But that is not all: Jack Ma also publishes the South China Morning Post. By the way, in the market of electronic payments Alibaba Group since 2004, when the project Alipay was launched. Currently, over 200 million payments a day pass through the system.
In August 2018, it became known that the corporation conducts research in the field of artificial intelligence.
Shares of the holding are traded on the New York Stock Exchange, and capitalization in early 2018 reached $ 500 billion. And, of course, an important detail – the Alibaba Group is consistently among the twenty richest IT companies in the world, and its organizer is the first Chinese businessman to be featured on the cover of Forbes magazine (November issue for 2015).