Whenever you hear “Made in China”, you think that’s just another piece of junk the Chinese managed to ship over for 3 cents a piece. Well, it turns out that China doesn’t only excel in selling cheap stuff, but it also manages very well to bring to the world giants that eclipse Facebook, Amazon or eBay.
You may or may not heard of it, but one thing is sure, it will make big news with its upcoming IPO! Alibaba is set to reach a 163 $Billion market value once it goes public in the New York Stock Exchange sometimes in mid or late September.
What makes Alibaba the giant tech company it is today is the fact that it brings in more revenue than Amazon and eBay combine, and it’s easy to understand why: it managed to tap into the Chinese market. That’s hundreds of millions of people shopping through Alibaba everyday in China. The tech giant didn’t only pop on radars after it announced its upcoming IPO, in fact it was major headline for a while now, having major investors such as Yahoo who owns over 20% of the company.
The guy behind Alibaba? A former teacher who started the site 15 years ago in his apartments! Sick!
Check Alibaba’s founder, Jack Ma, speak about E-Commerce and his business.
Photo credit: WSJ