Alibaba Group Holding Limited (Chinese: ??????????? ; pinyin: ? L? B? B? JÃÆ'tuÃÆ'¡n KÃÆ'²ngg? Y? UxiÃÆ'n G? Ngs? ) is a Chinese multinational e-commerce, retail, Internet, AI, and technology a conglomerate founded in 1999 that provides consumer-to-consumer, business-to-consumer and business-to-business sales services through web portals, as well as electronic payment services, shopping search engines and cloud computing services. The company owns and operates diverse businesses around the world in various sectors, and has been named one of the world's most admired companies by Fortune.
At closing time on the IPO - US $ 25 billion - the world's highest history, September 19, 2014, Alibaba's market value was US $ 231 billion. As of June 2018, Alibaba's market capitalization reached US $ 542 billion. It is one of the 10 most valuable and largest companies in the world. In January 2018, Alibaba became the second Asian company to break the valuation value of US $ 500 billion, after Tencent. By 2018, Alibaba has the 9th highest global brand value.
Operating in over 200 countries, Alibaba is the world's largest retailer, one of the largest Internet and AI companies, one of the largest venture capital firms, and one of the largest investment companies in the world. Online sales and profits surpass all US retailers (including Walmart, Amazon and eBay) combined since 2015. It has grown into the media industry, with revenues tripling year-over-year points. It also arranges Chinese Day Singles to be the world's largest online and offline shopping day, with sales alone reaching more than US $ 25.4 billion on November 11, 2017.
Recently, Alibaba has outperformed major cloud players including Amazon, Microsoft, and Google in public cloud revenue growth, achieving a three-digit percentage year-over-year revenue growth. In May 2018, the video appeared in a news service attack that featured PayTM director and pointed out that PayTM, an Indian mobile payment company owned in part by Alibaba and Softbank groups allegedly shared its data with Indian law enforcement agencies.
Video Alibaba Group
History
Establishment and name
The name of the company comes from Ali Baba's character from Arabic literature Thousand and One Nights because of its universal appeal. Like Jack Ma, one of the founders, explains:
One day I was in San Francisco at a coffee shop, and I thought Alibaba was a good name. And then a servant came, and I said, "Do you know about Alibaba?" And he said yes . I said, " What do you know? ", and he says, " Open Sesame ". And I said, "Yes, this is his name! Then I went down the street and found 30 people and asked them," Do you know Alibaba? "People from India, people from Germany, people from Tokyo and China... they all know about Alibaba Alibaba - open sesame Alibaba is a good and smart business man, and he helps village.. So... easily spelled, and known globally Alibaba opened sesame for small to medium-sized companies We also register the name "Alimama", if someone wants to marry us! "
Brick and mortar stores
According to Li Chuan, a senior executive at Alibaba, the company plans in 2013 to open traditional retail outlets of bricks and cement in partnership with Chinese real estate company Dalian Wanda Group. In addition, Alibaba bought a 25% stake in Hong Kong-based Intime Retail in early 2014. In early 2017, Alibaba and Intime founder Shen Guojun agreed to pay HK $ 19.8 billion (2.6 billion US dollars) for take a personal store chain. Alibaba's share - 28% of its 2014 investment of US $ 692 million - will rise to about 74% after the deal.
IPO
On September 5, 2014, the group - in a filing arrangement with the US Securities and Exchange Commission - sets the price range of US $ 60 to $ 66 per share for an IPO, the final price to be determined after an international road show to gauge investor interest in shares of Alibaba to shareholders.
On September 18, 2014, Alibaba's IPO was priced at US $ 68, raising US $ 21.8 billion for companies and investors. Alibaba is the largest US IPO in history. On September 19, 2014, Alibaba stock (BABA) started trading on the NYSE with an opening price of $ 92.70 at 11:55 EST. On September 22, 2014, Alibaba underwriters announced their confirmation that they had used the greenshoe option to sell 15% more shares than originally planned, increasing the total number of IPOs to $ 25 billion.
Company timeline
In December 1999, Jack Ma and 17 other founders released their first online market, named "Alibaba Online". From 1999 to 2000, Alibaba Group raised a total of US $ 25 million from SoftBank, Goldman Sachs, Fidelity and several other institutions.
In December 2001, Alibaba.com achieved profitability. In May 2003, Taobao was established as a consumer e-commerce platform. In December 2004, Alipay, which started as a service on the Taobao platform, became a separate business. In October 2005, Alibaba Group took over China's Yahoo! operations as part of its strategic partnership with Yahoo! Inc.
In November 2007, Alibaba.com successfully listed on the Hong Kong Stock Exchange. In April 2008, Taobao established Taobao Mall (Tmall.com), a retail website, to complement its C2C market. In September 2008, Alibaba Group R & amp; D Institute was established. In December 2008, Alibaba.com Corporation announced that all Alibaba group websites will be free from shark fins on January 1, 2009.
In 2009, global Atlantic equity firm General Atlantic invested $ 75 million, headed by corporate head of the global internet and technology sector, Anton Levy. In September 2009, Alibaba Group established Alibaba Cloud Computing along with its 10th anniversary. In May 2010, Alibaba Group announced plans to allocate 0.3% of its annual revenue to fund environmental protection initiatives. In October 2010, Taobao beta-launched eTao as a shopping search engine.
In June 2011, Alibaba Group reorganized Taobao into three separate companies: Taobao Marketplace, Taobao Mall (Tmall.com) and eTao. In July 2011, Alibaba Cloud Computing launched its first self-developed mobile operating system, Aliyun OS over K-Touch Cloud Smartphone. In January 2012, Tmall.com changed its Chinese name as part of a rebranding exercise. In May 2012 the Alibaba Group decided to reverse course and take Alibaba.com's own publicly traded, erasing from the Hong Kong stock exchange near HK $ 13.50 per share.
In September 2013, the company sought an IPO in the United States after an agreement could not be reached with the Hong Kong regulator. Planning took over 12 months before the company's market, but in September 2014, with Reuters Instrument Code "BABA.N". The IPO price initially raised US $ 21.8 billion, which then increased to US $ 25 billion, making it the largest IPO in history. The buyer is actually buying shares in the Cayman Islands shell company, not in the Alibaba group, as China prohibits foreign ownership of the company.
In September 2013, Alibaba denied ditching HK for an IPO after the Hong Kong Exchange refused to allow the company to make a list of shares. The company "seeks to create a partnership structure that will effectively provide preferential treatment to one class of shareholders over another.The Hong Kong listing rules have long prohibited companies from issuing multiple-class shares with different voting rights." The proposal will allow the company's founder, Jack Ma and his colleagues to be able to nominate a majority of board members and retain control of the company even if it issues new shares.
In September 2013, Engaging in a bit of controversy, Alibaba Group denies leaving Hong Kong for US IPO, due to Hong Kong Exchange's refusal to allow a double-class division structure. In March 2014, the Alibaba group said it would begin the process of applying for an initial public offering in the US. Prior to filing an IPO on Form F-1 as a foreign issuer in the US, Alibaba spree aggressive acquisitions - previously unusual for the company - acquired many minority and minority interests in companies including Weibo micro-blogging service, China Vision Holdings, and shared services Lyft cars, as well as the developer of smart remote applications Peel Technologies. On May 6, 2014, Alibaba Group filed a registration document to go public in the US in what may be one of the largest public offerings ever in American history. On June 5, 2014, the Alibaba group agreed to take a 50 percent stake in Guangzhou Evergrande Football Club, winner of the AFC Champions League 2013, worth 1.2 billion yuan ($ 192 million). In June 2014, Alibaba acquired Chinese mobile internet company UCWeb. The purchase price has not been disclosed but the company claims that the acquisition created the biggest merger in China's Internet sector history.
The consumer-to-consumer portal Alibaba, Taobao and the business-to-consumer portal, Tmall, each featuring nearly one billion products and both are the 20 most visited websites globally. The Group website accounts for over 60% of packages shipped in China in March 2013, and 80% of the country's online sales in September 2014. Alipay, an online escrow payment service, accounts for about half of all online payment transactions in China.
On September 19, 2014, Alibaba shares (BABA) started trading on the NYSE. On February 2, 2015, Alibaba announced it had acquired a $ 590 million minority stake in Chinese smartphone maker Meizu. On March 30, 2015, Jack Ma met Prime Minister Narendra Modi and discussed the Alibaba Group's plans to help small businesses in India. Alibaba reported sales of $ 14.32 billion on China Singles Day on November 11, 2015, up 60 percent from 2014. In November 2016, Alibaba's e-commerce giant set a Single Day record and generated 120.7 billion CNY (17.79 billion USD) in dirty merchandise. Alibaba enters India's e-commerce space with a 25% stake in owner One97 Paytm. In August 2015, Alibaba Group invested in Snapdeal.
In September 2015, Alibaba Group together with Ant Financial invested approximately $ 680 Million in India's Paytm e-commerce company. On December 11, 2015, Alibaba purchased the South China Morning Post and other media assets from SCMP Group for US $ 266 million. On December 31, 2015, Alibaba bought 33 million shares of Groupon, corresponding to a 5.6 percent stake. On March 2, 2016, Alibaba made a deal with the Oceans Sport and Entertainment media agency to bring the Match Poker game to a non-gambling game in Ocean. In April 2016, Alibaba announced that it intends to acquire a controlling stake in the privately-run Lazada Group, "Amazon Southeast Asia", by paying $ 500 million for new shares and buying shares worth $ 500 million from existing investors.
On June 9, 2016, Alibaba officially launched Roewe RX5, the first "internet car" to work with SAIC. The RX5 is available for pre-order. This price of upwards RMB 148,800 (US $ 22,300) with deliveries will be scheduled to begin in August 2016. Ma believes that "in the future that 80 percent of the functionality of the car will not be tied to transportation, the car will be the kind of robot that communicates with you every day. "In a speech in Bangkok in October 2016, Ma claimed that Alibaba Group has created more than 30 million jobs in China. In a meeting between Donald Trump and Jack Ma in early January 2017 they discussed the creation of a million jobs in the United States.
In February 2017, the company has engaged and dealt with fake issues and agencies accused of filing fake false claims.
In May 2017, Alibaba broke the value of $ 300 billion, after Tencent achieved the achievement. In the same period, Alibaba also became one of the 10 most valuable companies in the world. It reports sales growth forecasts that exceed the estimates of each analyst, while at the same time surpassing Tencent to become the most valuable company in Asia.
In July 2017, Alibaba became the first Asian company to break the $ 400 billion mark.
In August 2017, Suyun, backed by Alibaba will join GoGoVan Hong Kong, to create an Asia-based online logistics platform. The company's executives have stated that there are big plans for mergers to become a global logistics company.
In September 2017, Alibaba's Ant Financial launched a face recognition technology that allows paying customers to show off smiles, through its Alipay service. 3D cameras located at the sales point scan customers' faces to verify their identity, there is also a phone number verification option for added security. It also entered into a partnership with Tencent on the distribution of streaming music rights, the agreement aims to protect licensed streaming services that offer copyright content from the music industry, encourage high-quality and genuine music, and develop a fast-growing streaming market in China. Alibaba will get the right to stream music from an international label, which already has an exclusive deal with Tencent, in exchange for offering reciprocal rights to the Chinese and Japanese music catalogs. Alibaba has become an official partner of New York Fashion Week, the collaboration is conducted in association with one of Suntchi's leading fashion, lifestyle and entertainment management companies and aims to connect international brands with Chinese consumers as well as display Chinese fashion designers to the world, due to China's influence on global mode is expanding rapidly. Ant Financial will form a joint venture with CK Hutchison Holdings owned by Sir Li Ka-shing to bring digital wallet services in Hong Kong. It has also entered into a partnership with JD.com to further expand China's packet delivery efficiency, invest US $ 330 million to merchandisers and China logistics partners to build more facilities for shipping purposes.
In October 2017, the company acquired EJoy and created a game division to develop new games within the company to compete with Tencent. It will also build a robot gas station in Hangzhou at the end of the month that will not be sustained, relying on robotic weapons to fill the gas tank. The gas station will have a store that will be empty from the cashier, and the customer will use Alipay at the checkout gate.
In March 2018, Alibaba deepened its relationship with French car manufacturer Renault. This expanded relationship occurred as a result of Renault's desire to increase sales in the Asia-Pacific region, with a high focus on sales in China.
In May 2018, Alibaba bought the entire Daraz brand from Rocket Internet. Daraz was founded as a multinational e-commerce site by Rocket Internet in 2012. At the time of the acquisition, Daraz operates several South Asian countries including Bangladesh, Myanmar, Nepal, Pakistan and Sri Lanka. According to Rocket Internet, Daraz will continue to operate under the same brand name after sales to Alibaba.
Maps Alibaba Group
Affiliated companies and entities
Ecommerce and retail services platform
In 2016, Alibaba Taobao and Tmall, two of the largest and most popular online retail markets in the world, totaled 3 trillion yuan ($ 478.6 billion) in transaction volume. The company aims to double its transaction volume to 6 trillion yuan by 2020. In February 2018, Taobao reached 580 million monthly active users, while Tmall reached 500 million monthly active users. It is also rapidly expanding its e-commerce network abroad. Alibaba also announced it will invest 100 billion yuan over five years to build a global logistics network, which supports aggressive overseas expansion, and demonstrates Alibaba's commitment to building the most efficient logistics network in China and around the world. The company invested 5.3 billion yuan in Cainiao Smart Logistics Network to increase its stake to 51 percent from 47 percent. The investment will value Cainiao, a joint venture of China's top logistics company, about US $ 20 billion.
Alibaba.com
Alibaba.com, Alibaba's main company, is in 2014, the world's largest online business-to-business trading platform for small businesses. Founded in Hangzhou in eastern China, Alibaba.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. China Portal 1688.com was developed for domestic business-to-business trade in China. In addition, Alibaba.com offers a transaction-based retail website, which allows smaller buyers to purchase small quantities at wholesale prices.
Alibaba.com went public on the Hong Kong Stock Exchange in 2007, and was removed again in 2012.
In 2013, 1688.com launched a direct channel responsible for $ 30 million in daily transaction value.
AliExpress
Launched in 2010, Expedia is an online retail service made up of mostly small Chinese businesses that offer products to international online shoppers. This is the most visited e-commerce website in Russia. This allows small businesses in China to be sold to customers around the world, producing a wide range of products. It might be more accurate to compare AliExpress to eBay, because the seller is independent; it only serves as a host for other businesses to sell to consumers. Similar to eBay, Aliexpress sellers can be either a company or an individual. It connects Chinese business directly with buyers. The main difference from Taobao is that it is intended primarily for international buyers. Especially in the United States, Russia, Brazil or Spain.
Taobao
Taobao Marketplace, or Taobao, in 2013 is China's largest consumer-to-consumer online shopping platform. Founded in 2003, it offers a variety of products for retail sales. In January 2015, this is the second most visited website in China, according to Alexa.com. The growth of Taobao is associated with offering free registration and commission transactions using a free third-party payment platform.
Advertisements account for 85 percent of the company's total revenue, allowing it to break even in 2009. Taobao's 2010 earnings are estimated at 1.5 billion yuan (235.7 million US), only about 0.4 percent of the total sales figure of 400 billion yuan $ 62.9 billion) that year, well below the industry average of 2 percent, according to iResearch estimates.
According to Zhang Yu, director of Taobao, between 2011 and 2013 the number of stores in Taobao with annual sales below 100 thousand yuan increased by 60%; the number of stores with sales between 10 million and 1 million yuan increased by 30%; and the number of stores with sales of more than 1 million yuan increased by 33%.
Also, there is another part of Taobao. Tmall.com was introduced in April 2008 as an online retail platform to complement Taobao's consumer-to-consumer portal and become a separate business in June 2011. In October 2013, this is the 8th most visited website in China, offering global brands to an increasingly prosperous Chinese consumer base. In addition, there is Juhuasuan, a group shopping website in China. Launched by Taobao in March 2010 and became a separate business in October 2011. Juhuasuan offers "flash sales", products available only for a certain period of time, which can last from one or two days to a full month. To buy at a discount, buyers must buy the goods within the specified time. Plus, Taobao launched a service known as eTao. eTao was launched by Taobao in October 2010 as a comparison shopping website, and became a separate business in June 2011. It offers search results from most of China's online shopping platform, including product tracking, sales, and coupon tracking. Online buyers may use this site to compare prices from different sellers and identify products to purchase. According to the Alibaba Group website, eTao offers products from Amazon China, Dangdang, Gome, Yihaodian, Nike China and Vancl, as well as Taobao and Tmall.
Fliggy Corporate
Fliggy (formerly Alitrip) is an online travel platform, designed as an online mall for brands such as airlines and aviation agencies. The 'Fliggy Corporate' slogan is 'flying piggy' and 'Traveling just like a pig - we eat, sleep and have fun.' The platform was launched in late October 2016. Fliggy set the target audience as a younger generation and strives to become a one-stop service as they plan their trip, especially on a trip abroad.
On August 7, 2017, the Alibaba Group and Marriott International Group announced a comprehensive strategic partnership. Two companies will establish joint ventures. Through a system of docking technology and superiority resources, Fliggy owns a Marriott hotel store. It has the same functionality as the Marriott China website and Marriott mobile app to create the best global travel experience for consumers.
Lazada
Lazada Group is a Singapore e-commerce company founded by Rocket Internet in 2011. Lazada operates sites in Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. The site was launched in March 2012, with the business model of selling inventory to customers from its own warehouse. In 2013, it adds a market model that allows third-party retailers to sell their products through the Lazada site. Lazada offers an extensive product offering in a variety of categories ranging from electronic goods to household goods, toys, fashion and sports equipment. In April 2016, Alibaba Group announced that it intends to acquire a controlling stake in Lazada by paying $ 500 million for new shares and buying $ 500 million worth of existing investors. In March 2018, Alibaba announced its plan to invest an additional $ 2 billion in the company, with a total investment of $ 4 billion. Alibaba also plans to appoint Alibaba co-founder Lucy Peng as new CEO of Lazada.
11 Main
On June 11, 2014, Alibaba launched the US 11 Main shopping site. The main market has more than 1,000 merchants in categories such as clothing, fashion accessories and jewelry as well as interior and arts and crafts items and plans to keep adding more, the company said. On June 23, 2015, Alibaba announced that it sold 11 Main to OpenSky, an online market operator based in New York.
Cloud computing and AI technology
Alibaba Cloud aims to build cloud computing services platform, including e-commerce data mining, e-commerce data processing, and data adjustment. Founded in September 2009 along with the 10th anniversary of Alibaba Group. It has an R & amp; D and operators in Hangzhou, Beijing, Hong Kong, Singapore, Silicon Valley and Dubai. In July 2014, Alibaba Cloud entered into a partnership agreement with Inspur. Alibaba Cloud is the largest high-end cloud computing company in China. In 2009, Alibaba acquired HiChina, the largest domain registration service and web hosting services company in China, and built it into Alibaba Cloud.
AliGenie
AliGenie is an open intelligent personal assistant platform based in China that was introduced at the Alibaba 2017 Computing Conference in Hangzhou. Currently used in Genie Tmall smart speakers.
AliOS
AliOS (formerly Yun OS and Aliyun OS ) is an operating system designed for mobile devices. This is a Linux distribution developed by Alibaba Cloud.
Fintech and online payment platform
Alipay
Launched in 2004, Alipay is a third party online payment platform with no transaction fees. It also provides escrow services, where buyers can verify whether they are happy with the items they have bought before releasing money to the seller. In addition, Ant Finance, another Alibaba company, has operated Alipay payment services since 2004. Alibaba Group spun Alipay in 2010 in a controversial move. According to analyst research reports, Alipay has the largest market share in China with 300A million users and controls of just under half of China's online payment market in February 2014. In 2013, Alipay launched a financial product platform called Yu'ebao (?? ?). By 2015, Alibaba announced that it will introduce a system that can be paid by recognizing the face of its owner. One of the determinants of Alibaba's success is its fast and reliable payment system. Alibaba offers several types of payment systems, including credit cards, debit cards, Alipay, Quick-pay, and online banking. This payment system helps to deal with simultaneous cash flow transactions easily and conveniently.
Alibaba Ant Financial affiliates ranked sixth in Fortune's Change the World, recognized for the positive green environmental impact of Antis Forest , the world's largest platform for tracking individual carbon footprints.. Ant Financial and its partners have achieved great success in reducing CO 2 emissions.
Entertainment service
Alibaba created a new live entertainment business unit under the Media and Entertainment Digital Group focusing on ticketing, content creation and hands-on experience, carrying its entertainment ticketing platform Peace and its content creation and MaiLive and Maizuo technology units under one roof. It aims to provide platforms for live events (eg concerts, dramas, eSports and sports events), as well as supporting content partners and leveraging Alibaba's data capabilities for offline shows. It also provides an online 9Apps online distribution service, which hosts large amounts of content and apps for downloads.
AliMusic
AliMusic was launched in March 2015, and it is the music division of Alibaba Group. Xiami Music and Tiantian Music are two of APM's music steamed AliMusic. AliMusic named Gao Xiaosong as chairman and Song Ke as Chief Executive Officer in July 2015.
In 2017, Tencent Music expects a $ 10 billion IPO by signing a rights agreement with Alibaba, strengthening its position in the important Chinese market. Under the terms of the agreement Alibaba will get the rights to stream music from international labels such as Sony Music, Universal Music Group and YG Entertainment, which already has an exclusive offer with Tencent, in exchange for offering to its catalog from Rock Records, HIM International Music and so on.
Images of Alibaba
In March 2014, Alibaba agreed to acquire a controlling stake in ChinaVision Media Group for $ 804 million. The two companies announced that they would form a strategic committee for potential future opportunities in online entertainment and other media areas. The company changed its name to Alibaba Pictures Group.
Youku Tudou
In April 2014, Alibaba and Yunfeng Capital, a private equity firm controlled by Alibaba founder Jack Ma, agreed to acquire a joint 18.5 percent stake in Youku Tudou, which broadcast a series of popular television programs and other videos via the Internet.
More
Aliwangwang
In 2004, the company released its own instant messaging software service Aliwangwang for interaction between customers and online sellers. By 2014 Aliwangwang users have reached 50 million, making it the second largest instant messaging tool in China.
AliHealth
AliHealth was launched in 2014 when Alibaba and Yunfeng Capital, a private equity firm, bought 54% stake in Citic 21CN. It is listed on the Hong Kong Stock Exchange as SEHK: Ã, 0241. It positions itself as a pharmaceutical e-commerce business and medical services. In April 2015, the group also reached an agreement to transfer the online B2C pharmacy, Tmall Medical (yao.Tmall.com), to AliHealth. Integration provides consumers a wide range of pharmaceutical and health products available in China.
AliSports
Alibaba sports division, AliSports, based in Shanghai, was established in 2015 after consolidating several existing parent company business units. New company operations include television and digital sports rights, event operations, spot commercialization, copyright, media, business development, gambling, and tickets.
Alisports get exclusive title sponsor from FIFA Club World Cup from 2015 to 2022. The company announced the Champion of Champions rugby seven tournaments in 2017, to be played in Shanghai for the highest prize money ever offered in the sport.
AutoNavi is a Chinese map supplier. It was acquired by Alibaba in 2014.
Yahoo! China
Yahoo! China was launched on 24 September 1999. In October 2005, Alibaba Group established a strategic partnership with Yahoo! and acquired China Yahoo! (www.yahoo.com.cn), a Chinese-language portal that focuses on Internet services such as news, email, and search. In April 2013, Alibaba Group announced that, as part of an agreement to buy back Yahoo! Stake letters, tech support for China Yahoo! Email service will be suspended and China Yahoo! Email account migration will start. Some options are offered to users to make the transition as smooth as possible, and China Yahoo! users have four months to migrate their account to Aliyun email service, Yahoo! Mail services in the United States, or other third-party email providers of user choice. Yahoo! China closed its email service on August 19, 2013. Emails sent to Yahoo! Chinese accounts can be forwarded to Alimail boxes until December 31, 2014. Users are also permitted to transfer e-mail accounts to yahoo.com or other e-mail services. It is estimated there are no more than one million users with Yahoo! Mail for China and possibly they also have other e-mail accounts.
Laiwang
In October 2013, company chairman Jack Ma announced that the company will no longer use Tencent WeChat's messaging app, and will further promote its own messaging app and service, Laiwang.
South China Morning Post
In December 2015, Alibaba approved an agreement to acquire the South China Morning Post and other media assets of the group with a consideration of $ 266 million. Although Alibaba promised editorial independence, vice chairman Joseph Tsai said that Alibaba believes that "the world needs a plurality of views when it comes to China's scope." China's progress as an economic power and its importance to world stability are too important to be there, a single thesis. media attention to what this means for newspaper coverage.
UCWeb
UCWeb is China's leading provider of mobile Internet software and services. Since its establishment in 2004, UCWeb's mission has provided a better mobile internet experience to billions of users worldwide. Its international product portfolio includes mobile search services (UC Browser), app and game distribution platforms (9Apps and 9Game), mobile (UC Union) and UC News mobile platforms that primarily serve all types of news in the Indian market (such as aggregators) among others.
Ali Venture Capital
Hangzhou Ali Venture Capital (China: ???????? ) is an 80% company owned by Jack Ma and other managers of Alibaba. For regulatory purposes, Alibaba Group does not own the company directly, but with a plea. It is considered a subsidiary and/or consolidated entity of Alibaba Group. Ali Venture Capital is Beijing Enlight Media's shareholder and part A of China Unicom.
src: telefonos-gratis.com
Corporate governance
Jack Ma was Alibaba Group's chief executive officer for the first 10 years, but resigned as CEO on May 10, 2013, becoming chief executive. Jonathan Lu became the company's new CEO. On May 10, 2015 Daniel Zhang replaced Lu as CEO.
src: www.kyto.com
Controversy
Gold Supplier Membership
Alibaba.com offers membership of a paid Gold Supplier to try to ensure that every genuine seller; The Supplier Gold Supplier Status and the number of years that have been held will be displayed. Types and supplier verification checks are listed on the Alibaba.com website, with more rigorous checks for sellers outside of China. Although most suppliers are reported to be genuine, there are many cases of sellers, some with Gold Supplier status, trying to cheat unsuspecting buyers. In February 2011, the controversy broke out when the Alibaba corporate office acknowledged that they had given a sign of integrity from China's "Gold Supplier" program to more than 2,000 dealers who subsequently deceived them as buyers; the company's stock price fell "suddenly" after the announcement. A statement from the company reported that Yan Limin, general manager of Alibaba.com at the time, had been dismissed in March for "error"; Phil Muncaster of the United Kingdom The Register also reported that "more than 28 employees have been involved in ingenious affairs".
As noted by the Economist, the company's response has conflicting components: Alibaba's alleged view that its corrective action demonstrates its commitment to quality and integrity (in which it contrasts with other scandal-related Chinese businesses), < i> versus display of damage controls indicating that a third-party verified "Subscriber" Chinese subscriber program is threatened by a diminished trust in its authentication system, eliminating incentives for global buyers to choose Alibaba as their business-for business services, thereby widening Alibaba's danger through impacts on brands and capabilities (the latter through "defenestration of senior people"). The scandal was said to have put the head of the Alibaba Group, Jack Ma - who is described to have been very angry over the scandal - in a position to personally fight to win back the trust.
Sales of uranium
In May 2012, US law enforcement agencies posing as American brokers representing people in Iran posted an advertisement on Alibaba.com that wanted to buy uranium. In August 2013, Patrick Campbell of Sierra Leone was arrested at New York's John F. Kennedy International Airport. The raw uranium ore sample is thought to be found hidden in the soles of his shoe. Campbell is accused of trying to regulate the export of 1,000 tons of yellowcake from Sierra Leone to the Bandar Abbas port of Iran, packed in drums and disguised as chromite minerals. Then it was determined that the sample contained an insignificant amount of uranium, and Campbell was released in court.
Fake and scam items
Alibaba is often associated with counterfeit imports of counterfeit items: by 2016, the US Trade Representative Office added Taobao back to the list of famous forger platforms that include torrent sites such as The Pirate Bay.
AliExpress is even more controversial: although it claims to provide buyer protection, it often refuses to replace customers when goods are confiscated by customs or when sellers who establish fake business entities disappear after their fraud. Several hundred lawsuits and class actions have been filed in the US.
Alibaba denies making a mistake and begins to act shyly against counterfeiters with only 2 lawsuits filed on January 4, 2017, but the brand that is suffering from counterfeit products continues to blame Alibaba for not doing what it takes to fight the issue.
src: static1.seekingalpha.com
References
src: mircsgo.ru
External links
- Official website
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Source of the article : Wikipedia
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