Alibaba Group Holding Ltd (NYSE:BABA)
Description:
Alibaba Group Holding Ltd (NYSE:BABA), is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally. Retail marketplaces and services operated by the Company comprise the China online shopping destination (Taobao Marketplace); the China brands and retail platform (Tmall); the China group buying site that offers products by aggregating demand from consumers through limited time discounted sales (Juhuasuan), and the global consumer marketplace targeting consumers around the world (AliExpress). 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.
Alibaba Group Holding Ltd News Update:
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 initial public offering (IPO), 19 September 2014, Alibaba’s market value was measured as US$231 billion. However, the stock has traded down and market cap was $145 billion at the end of September 2015.
Last week, Alibaba Group Holding Ltd (NYSE:BABA) made history when it sold $14 billion of merchandise in a single day — more than Cyber Monday and Black Friday online sales combined, according to Reuters
But the retailer is still working to tackle one huge problem: counterfeit goods. Since 2013, Alibaba spent $161 million to eradicate the problem, which founder Jack Ma once called “a cancer we have to deal with.”
“We are asking for Alibaba to start addressing counterfeits in a manner that is transparent, comprehensible, and fast,” the AAFA writes in the letter. “We are asking for Alibaba to create a process whereby Alibaba removes counterfeits quickly at the request of certified brands.” Reuters Report
Alibaba Group to Take Part in a Fireside Chat at the 14th Annual Morgan Stanley Asia Pacific Summit
Alibaba Group Holding Limited (BABA) declared that Mr. Joe Tsai, Executive Vice Chairman, will take part in a fireside chat at the 14th Annual Morgan Stanley Asia Pacific Summit. The session is planned at 10:30a.m. Singapore Time on November 17, 2015. The conference will be held at the Mandarin Oriental Hotel in Singapore.
Alibaba Group Holding Ltd (NYSE:BABA), ended its last trade with -3.80% loss, and closed at $75.77.