Alibaba.com Limited Enjoys Taobao Removed from US Notorious List, According to BAC Report
08 Jan 2013 • by Natalie Aster
LONDON – In December US Trade Department revised its notorious list where it states all unreliable online marketplaces which sell pirated and counterfeit goods. Upon that revision, Taobao Marketplace (an online shopping platform owned by Alibaba Group) was admitted as a trustworthy site due to huge efforts put during the last year to ensure buyer safety.
Taobao enjoys about 500 million registered users from around the world, occupying 70% of Chinese online retail. Most of the users are from China, Taiwan, Hong Kong and Macao. Alibaba Group, however, plans to expand its e-commerce activities in foreign countries, and it has put a lot of effort to remove Taobao from the notorious list. US manufacturers of software, shoe and apparel oppose the decision of US Trade Department as they see Taobao as the world’s largest counterfeits source.
Alibaba employs massive expansion strategy, it is striving to become a significant e-commerce enterprise around the globe. The company delivers impressive financial results fueled with constantly increasing customers’ base. In FY 2011 revenue increased by 15.5% to CNY 6.4 B, gross profit added 11.5% and amounted CNY 5.2 B, operating income rose by 18.2% to CNY 1.8 B, net income grew by 16.3% and reached CNY 1.7 B. International suppliers brought 58% of all revenues while Chinese buyers and other transactions generated 42%. United States remains the largest target market among foreign regions, followed by EU and India.
Founded in 1999 and headquartered in Hangzhou (China), Alibaba Group engages in e-commerce businesses aimed at wholesale as well as individual sales. The company owns the following platforms: Alibaba.com International, Alibaba.com China, Taobao Marketplace, Tmall.com, Juhuasuan, eTao, Alibaba Cloud Computing, China Yahoo!, Alipay. Started by 18 enthusiasts, today Alibaba employs over 24000 people on about 70 cities in China, Japan, Korea, India, UK and US. The company is private and belongs to the family which founded it 13 years ago.
More details on the company’s present activities, risk factors, business possibilities and experts’ forecasts can be found in the report “Alibaba.com Limited Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Alibaba.com Limited Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Dec, 2012
More company reports featuring SWOT and financial information, industry and competitors analysis can be found in Company Reports Catalog.