Alibaba, Jack Ma’s pet project has taken over Amazon to become the number one company in the field of e-commerce. To gain such a feat, it has had to alter the internet in a lot of ways to boost its success.
Listed below are a few ways in which Alibaba changed the internet for the better:
Alibaba started with the view that it would connect Chinese manufacturers to foreigners who wanted Chinese goods. Jack Ma took it one step ahead by introducing AliExpress which is essentially a wholesale e-commerce site which allows Chinese manufacturers to connect to customers worldwide.
Despite online payment services being available in abundance, Alipay has managed to make a mark for itself in the crowded market. Alipay and WePay (WeChat’s online payment solution), together, hog over 70% of the market.
Alibaba isn’t focused on selling abroad but bringing in goods from global wholesalers to China as well. That was the reason behind the launch of 1688.com which allows countries to wholesale products to Chinese businesses. For instance, Australian Pavilion started by Australian Post in 1688.com sells wine to China at wholesale prices.
4. Single’s Day
Single’s Day which is observed on 11th November was a raging success and raked up $18 billion for Alibaba. There were flash sales and better deals on this day majority of which were availed through cellphones. There was so much hype about this day because Alibaba’s Singles’ Day pre-party welcomed a cast of celebrities to the stage, including Kobe Bryant, One Direction, Scarlett Johansson and the Beckhams.
5. Youku Tudou
Youku Tudou is the Chinese equivalent of Youtube which Alibaba acquired in 2016. This wasn’t the first time that ALibaba took over some Visual medium; the takeover of Youku Tudou was preceeded by acquiring China Vision in 2014. Currently, Alibaba’s video and production companies are hosted under the banner of Alibaba Digital Media and Entertainment Group whose budget over the next three years is estimated to be $7.3 million.
6. Ali Health
Since healthcare is one of the fastest growing sectors in China, it is only natural for the e-commerce giant to delve into this field as well. Ali Health is Alibaba’s health subsidiary which sells over-the-counter drugs in association with various pharmaceutical companies.