Company Summary
Alibaba Group Holding is one of the leading e-commerce giants in China. Over the last few years, the company has transformed itself from being a traditional e-commerce company to a conglomerate that has businesses ranging from logistics and food delivery to cloud computing.
Alibaba Group is represented by three businesses – Alibaba.com, Taobao, and Tmall. The company's businesses account for more than half of all online retail sales in China, which is one of the world’s fastest-growing e-commerce markets. Taobao is one of Alibaba Group’s most profitable marketplaces that generates for more than 80% of its sales, thanks to soaring demand for high-quality imported brands in China.
The company is well positioned in the New Retail space. In this space, it aims to bring together digital payments, e-commerce, food delivery and other parts of the business into one big ecosystem. The ubiquity of smartphones and evolution of physical and online commerce are helping the company to gain momentum in this space.
Launched in 2009, the cloud business is now one of the biggest in China. The cloud computing has gradually become one of the fastest-growing businesses and the second-largest revenue source for Alibaba.
The company has also become a renowned name in the growing entertainment and media market, driven by increasing demand for videos across its platform and growing partnerships.
Total revenues were RMB 868.7 billion ($126.5 billion) in fiscal 2023.
Notably, in the first-quarter fiscal 2024, the company reorganized its operations into six major business groups - Taobao and Tmall Group, Alibaba International Digital Commerce Group, Local Services Group, Cainiao Smart Logistics Network, Cloud Intelligence Group and Digital Media and Entertainment Group.