As of early 2020, the Chinese E-commerce giant had over 116,000 number of full time employees. It is listed on New York Stock Exchange (BABA). Its market Cap as of July 2018 is close to $495 Billion. Today Alibaba Group has grown into a global leader in e-commerce, the company and its subsidiaries operate in wholesale and retail online marketplaces, cloud computing, digital media and entertainment and various other sectors. Alibaba launched its first website with an aim to help petite Chinese exporters, manufacturers, and entrepreneurs to sell globally. It offers online shopping platform through and Taobao (for non-branded products sold by smaller-unknown merchants), cloud computing and data management services through Alibaba Cloud Computing, digital media and entertainment, online wholesale market on, online and mobile payment solutions through Alipay and partnership with Ant Financial Services. It supports merchants, brands and other businesses with its technology and helps them leverage their operations through internet as it engages more users. It was founded in 1999 and is headquartered in Hangzhou, China. Softbank is not selling for now and will be left with a 32 percent stake, making it the largest single shareholder.Alibaba is an e-commerce giant that markets, sells and operates different businesses globally. Yahoo is selling some $8 billion worth of shares in the offering, leaving it with a 16.3 percent stake.
In addition, it allows cornerstone Alibaba investors like Japan's Softbank 9984.T and Yahoo YHOO.O to profit from their foresight in getting in on the ground floor at the e-commerce giant. The deal is also expected to make millionaires out of a substantial chunk of the company’s managers, software engineers and other staff.
Ma, who founded the company in a one-bedroom apartment, will have a paper fortune worth some $14 billion, vaulting him into the ranks of tech billionaires like Bill Gates and Jeff Bezos. REUTERS/Edgar SuĪlibaba’s revenue surged 46 percent in the April to June quarter on strong gains in its mobile business, with net income attributable to its shareholders nearly tripling to $1.99 billion, or 84 cents a share. Alibaba founder Jack Ma gives a thumbs-up as he arrives to speak to investors at an initial public offering roadshow in Singapore September 16, 2014.
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