Alibaba is a Chinese e-commerce company founded in 1999 by Jack Ma with the website Alibaba.com, a business-to-business portal to connect Chinese manufacturers with overseas buyers. The company went public in September 2014 raising US$25 billion, making it the largest IPO in history. Alibaba's version of eBay.com is one of the 20 most-visited websites globally with 434 million monthly active users. Alipay accounts for roughly half of all online payment transactions within China.
Robert Dunne caught up for a chat with with Former Chief executive of the NSW branch of Australia-China Business Council, James Hudson, who was the first senior hire for the new Australian Alibaba office.
Alibaba became the world's largest retailer as of April 2016. It offers China’s version of YouTube, music, travel services, restaurant reviews and a platform to order takeaway food. In a recent event where celebrity Angelababy, known as China’s Taylor Swift, live streamed the new Maybelline lip gloss 10,000 units were sold in only two hours. Alibaba is also branching into other areas, including virtual reality to transform the consumer experience, and integrating its platform with an internet car. The company’s 2016 expansion into Australia and New Zealand is seen as an important step, and the company’s goal was to help local businesses trade on its platforms. Australia is already ranked fourth in sales volume on Tmall Global, Alibaba’s international online platform that allows direct sales to Chinese consumers, behind the United States, Japan and Korea.