Alibaba Group Holding Limited is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology. Founded 4 April 1999, the company provides consumer-to-consumer, business-to-consumer, and business-to-business sales services via web portals, as well as electronic payment services, shopping search engines and cloud computing services. The company's name came from the character Ali Baba from the Middle Eastern folk tale collection One Thousand and One Nights because of its universal appeal.
Group enables businesses to transform the way they market, sell and operate and improve their efficiencies. it also provides the technology infrastructure and marketing reach to help merchants, brands and other businesses to leverage the power of new technology to engage with their users and customers and operate in a more efficient way.
These businesses are comprised of core commerce, cloud computing, digital media and entertainment, and innovation initiatives. In addition, Ant Financial, an unconsolidated related party, provides payment and financial services to consumers and merchants on our platforms. A digital economy has developed around our platforms and businesses that consists of consumers, merchants, brands, retailers, third-party service providers, strategic alliance partners and other businesses.
With an aim to build the future infrastructure of commerce. Alibaba quickly becomes the world's largest retailer and e-commerce company, one of the largest Internet and AI companies, one of the biggest venture capital firms, and one of the biggest investment corporations in the world. The company hosts the largest B2B (Alibaba.com), C2C (Taobao), and B2C (Tmall) marketplaces in the world. Its online sales and profits surpassed all US retailers (including Walmart, Amazon, and eBay) combined since 2015. It has been expanding into the media industry, with revenues rising by triple percentage points year on year. It also sets the record on the 2018 edition of China's Singles' Day, the world's biggest online and offline shopping day.
According to alibabagroup.com