# Alibaba Group

**Published by:** [Succica](https://paragraph.com/@succica/)
**Published on:** 2022-07-30
**URL:** https://paragraph.com/@succica/alibaba-group

## Content

Alibaba Group Holding Limited, also known as Alibaba (Chinese: 阿里巴巴), is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via web portals, as well as electronic payment services, shopping search engines, and cloud computing services. It owns and operates a diverse portfolio of companies around the world in numerous business sectors. On 19 September 2014, Alibaba's initial public offering (IPO) on New York Stock Exchange raised US$25 billion, giving the company a market value of US$231 billion and, by far, then the largest IPO in world history. It is one of the top 10 most valuable corporations, and is named the 31st-largest public company in the world on the Forbes Global 2000 2020 list. In January 2018, Alibaba became the second Asian company to break the US$500 billion valuation mark, after its competitor Tencent. As of 2020, Alibaba has the sixth-highest global brand valuation.

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