Alibaba is China’s one of the largest e-commerce companies. With its three famous sites Alibaba.com, Taobao and Tmall, the tech giant handles hundreds of millions of active users and hosts millions of businesses. One of the impressive facts is that Alibaba’s total transactions last year has reached $248 billion which is more than both eBay and Amazon.com combined. The astronomical figures also made Alibaba dominating 80% of China’s online shopping market.
Following Alibaba’s debut on Wall Street raising an initial $21.8 billion from its IPO, the stock rocketed high in the first day of trade. The Chinese Internet giant successfully generated tremendous buzz among worldwide investors, both institutional and individual.