Alibaba

Topics: Electronic commerce, Yahoo!, Dot-com bubble Pages: 2 (775 words) Published: October 10, 2013
Alibaba had several Internet businesses focused on various e-commerce business models. Being one of the first companies to enter the Chinese Internet industry, Alibaba played a major role in bringing about an Internet revolution in China. It was launched with the vision of serving the small and medium enterprises in China and across the world. Alibaba also participate in search engine market and social-networking product. Jack Ma is founder of Alibaba. In 1995, he went to America and it was then that he decided to start an internet business and launch his website. In 1998, he designed a website for MOFTEC. This became the first government website in China. Then, he left and returned to Hangzhou to fulfill his dream of establishing his own e-commerce company. In August 1999, the Chinese Bureau of Industrial and Commercial Administration registered Alibaba as a computer company. During the late 1990s and early 2000s, the Internet had not yet become too popular in China. By the end of the first year in business, Alibaba had become the largest online global trading website in Asia. In March 2000, when the dotcom bubble 38 burst, a number of dotcom and e-commerce companies filed for bankruptcy. To deal with the dotcom crash, Alibaba reformulated its strategies: "Back to China", "Back to Central" and "Back to the Coast". In July 2000, Alibaba started selling its advertising space. Then, Alibaba started offering a customized online marketplace for its members called "Alibabies" for a premium. Additionally, Alibaba began charging its members for its services. Next, Alibaba's members had touched the one million mark. Alibaba was launched at a time when the Chinese Internet industry was in sunrise. Considering the growth potential of the budding e-commerce market, other players were expected to intensify competition in the emerging B2B market. For gaining a strong foothold in the B2B market, Ma announced that Alibaba would not charge any transaction fees. Ma launched...
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