The Alibaba group’s growth into the billions

Image source: britannica.com

One thing that is common to many successful companies that deal in the billions is that they have very interesting success stories to tell. Anything big today had to start small, and the case of Alibaba is no different, shares Steve Sorensen Net Worth.
In December 1999, a former English teacher by the name of Jack Ma, founded the company with a group of 18 tech pioneers from a small apartment in Hangzhou, China. Jack Ma’s goal was simple: to leverage the power of the wholesale internet marketplace.
It didn’t take long before the results came in, even when it seemed daunting for Jack Ma to aspire to take full advantage of China’s 730 million internet users and serve them on an efficient and timely basis with e-commerce. He did so by founding his own website.

 

Image source: seasia.com

Soon enough, he attracted various like-minded Chinese investors. Later on, as he started diversifying into creating more websites and companies, the revenue kicked in. One such company under his project, China Pages, was valued at $1 million, a moment in history which Steve Sorensen Net Worth thinks is the turning point for Alibaba.
By the end of 1999, the company had the workings of a major business-to-business dynamo, which racked in more investments. All of a sudden, the company had $35 million in venture funding, and Alibaba finally rolled out into the international arena.
Adding more diversity into the fold, Alibaba created more companies in the e-commerce business. At this point, the company looked more like a group, a huge leap from the singular company that it was when it started. It eventually had enough financial power to partner with the likes of Yahoo.
The company has been an unstoppable juggernaut since. According to the research made by Steve Sorensen Net Worth, Alibaba now boasts of 674 million active users each year and enjoys an annual revenue of $54 billion U.S. dollars.

Author: Steve Sorensen Networth

Hello there. I'm Steve Sorensen, a Des Moines-based investment strategist and business blogger. Welcome to my business blog. I received my degree in business from Iowa State University. I do a lot of research on many of the world's most successful companies, in particular on how they built up their net worth over the years. Not only do the success stories of Fortune 500 companies fascinate me so, they also provide a framework to analyze the potential growth outlook of many companies. This assists me in helping my clients find the right mix of companies to add to their portfolios. I spend my weekend downtime keeping fit by playing tennis doubles with friends. I enjoy country music and like to keep updated on the country music festivals. Check back from time to time to see what I've written about.

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