The power of ten - enterpriseinnovation.net

COVERSTORYAlibaba eyes global dominationCash-rich and on a high after 10 years, Jack Ma has his sights set onoverseas ramp-up By Chee Sing ChanAt US$1.7 billion, AlibabaGroup recorded the secondlargest Internet IPO ever afterGoogle’s 2004 Nasdaq listing. So to Alibaba. years ago by a former English teacher along with 17 other founders establishedthe original trading platform tomarket their products online.The operation is now the world’slargest B2B online marketplace forsmall and medium businesses and allowsmillions of buyers and suppliersaround the globe to perform transactionson a daily basis. Its three keymarketplaces—alibaba.com for globaltrade, alibaba.com.cn for mainlandtrade and the Japanese marketplace alibaba.co.jp—forma total community of42 million registered users from aroundthe world. via its international site but its ambitionsstretch much further.Wooing the USIn August, Alibaba.com also launched US as part of a US$30 million global adcampaign to increase awareness for theinternational marketplace. The companyacknowledges that its US user basecould be improved further. The WallStreet Journal recently reported that as istered.“Our mission is to make it easy for “Globalization is our vision and a keystrategy for us is to leverage on stronglocal partners in our key markets.”2008 Revenue: RMB3 billion(US$327 million)Employees worldwide: 15,000+Overseas operations: HK, Taiwan,Japan, US and UKShe added that Alibaba has declared2009 as a year of investment and expansionand it will take advantage ofthe current downturn to increase investmentsin customers, people and technologyto be ready for further growth.Buying spree? -dia,making it one of the top B2B e-commerce marketplaces in India. Whilein July this year, Alibaba announcedthe extension of its top Gold Suppliermembership to suppliers outside Great- further diversify the supplier base. sioninclude:Nov 2007 Successfully listed on theAlibaba’s Splinder: Alibaba has declaredHong Kong Stock Exchange.May 2008 Formed an associated company,Alibaba Japan, with Softbank totake over the operation of the Japanesemarketplace.Jul 2008 Introduced the Gold Sup-Dec 2008 to expand its presence in EuropeJul 2009 Launched Gold SupplierInternational Edition to serve suppliersoutside of Greater China.The company is also cash-rich at themoment with media reports claiming David Wei has been reported as sayingthe investment targets are not globalcompanies but further details have yetto be disclosed.Wei noted Alibaba.com has enoughcash to complete the transactions evenafter paying a special share dividend tocelebrate the company’s 10th anniversary.14 Computerworld Hong Kong Sept 2009 www.cw.com.hk