What is Alibaba Group?
Alibaba Group Holding Limited is a Chinese e-commerce company that provides consumer-to-consumer,business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, ashopping search engine and data-centric cloud computing services. The group began in 1999 when Jack Ma founded the website Alibaba.com, a business-to-business portal to connect Chinese manufacturers with overseas buyers. In 2012, two of Alibaba’s portals handled 1.1 trillion yuan ($170 billion) in sales.The company primarily operates in the People’s Republic of China (PRC), and at closing time, on the date of its historic initial public offering (IPO), 19 September 2014, Alibaba’s market value was measured as US$231 billion.
In September 2013, the company sought an IPO in the United States after a deal could not be reached with Hong Kong regulators.Planning occurred over 12 months before the company’s market debut in September 2014. The Alibaba Reuters Instrument Code is “BABA.N”, while the pricing of the IPO initially raised US$21.8 billion, which later increased to US$25 billion, making it the largest IPO in history. However, buyers weren’t purchasing actual shares in the group, since China forbids foreign ownership, but rather just shares in a Cayman Islands shell corporation.
the primary company of Alibaba china, is also the world’s largest online business-to-business trading platform for small businesses.
Founded in Hangzhou in eastern China, Alibaba.com/1688.com has three main services. The company’s English language portal Alibaba.com handles sales between importers and exporters from more than 240 countries and regions. The Chinese portal 1688.com was developed for Asia business-to-business trade from China to other countries in SEA region which is Malaysia, Singapore,etc. In addition, Alibaba.com offers a transaction-based retail website.
1688.com or Alibaba China contain a wide sourcing with local manufactures. Any of the B2B transaction can be easily carry out. Most of the business owner wholesale their online fashion product from the alibaba/1688
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