Not only is Google, Amazon, and Yahoo watching, not it seems
like Walmart is becoming nervous about the new giant that just debuted in the
public market on 9/18/14. Alibaba, under the ticker name ‘BABA’ is now ranked
as the world’s largest IPO.
““We want to be bigger than Walmart,” said Jack Ma, the
founder and driving force of Alibaba Group.” With such ambition and a strong
track record (Alibaba’s online shopping site has already blown past Ebay and
Amazon) of strong gross merchandize volume, this bold statement may not be too
far from being realized.
The only caution for this statement is that Alibaba is still
rather tied to the Chinese economy. Consumption growth is rather flat and
downturn in housing is sweeping across the country. Nevertheless, online
retailing is growing at an incredible pace and will bode will for this
retailing ecommerce giant, which is nicely supported by an upward trending
online market in China.
It’s not surprising though, that Alibaba is looking at US
and Europe for growth opportunities, and therefore listing on the NYSE. One
thing’s for sure, the world is waiting with breath abated at what will be the
future of this significant market player.
For more information, please visit: http://www.forbes.com/sites/gordonchang/2014/09/21/watch-out-walmart-alibaba-to-become-worlds-largest-retailer-by-2016/
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