This is a profile of the house that Jack Ma built. As the founder of Alibaba, he’s China’s version of Amazon’s Jeff Bezos and Ma now has an estimated personal fortune of $47.6 billion based on his holdings.
Founded in Hangzhou, China in 1999, Alibaba now has an ecosystem of companies that spans the globe and operates in sectors including e-commerce, payments, insurance, logistics, retail, technology, cloud computing and data management.
Scalable describes Alibaba best
Everything Jack Ma has built is on a scale most people can’t fully appreciate. His self-promoted China’s Singles’ Day event on Nov 11th had $25.3 billion in sales, up 39% from last year.
Sales covered 225 countries and the company handled 265,000 transactions per second with more than 90% of orders on mobile devices.
Several China business initiatives show both scale and Ma’s vision:
– connecting 6 million convenience stores to the internet in China
– helping 1,000 brands upgrade their computer systems
– converting 100,000 retail outlets into “smart stores”
– logistics operations that will see more than three million people handle 700 million packages alone from the Singles Day celebration.
Global powerhouse
Here are a few more facts to provide further context:
– 36,446 employees
– $21.49 billion in revenue
– $5.71 billion in profits.
The house, and related businesses, that Jack Ma built have created at least 10 additional billionaires according to Bloomberg.
The reach of Alibaba and Jack Ma is truly global and impressive for its breadth, depth and reach. It bad long until Ma turns his sights to the US in a much bigger way. Things could get very interesting for Amazon.
Read more about Jack Ma, Alibaba and Singles Day in the following articles.
Alibaba’s Rise Creates at Least 10 Billionaires Not Named Jack Ma
Jack Ma, who launched China’s largest e-commerce company two decades ago and rode it to a $47.6 billion fortune, turns out to have created billions of dollars of wealth for at least 10 others — a total of almost $100 billion. With Ma’s wealth included, the collective net worth is larger than the economies of 136 countries. Via bloomberg.com
Alibaba’s Singles’ Day Goes Global With Record $25.3 Billion in Sales
Alibaba Group Holding Ltd.’s Singles’ Day generated a record 168.2 billion yuan ($25.3 billion) in sales, as the e-commerce giant worked with more traditional retailers to market discounted lobster, iPhones and refrigerators to shoppers from at least 225 countries and regions. Via bloomberg.com
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