It is also one of the biggest venture capital firms, and one of the biggest investment corporations in the world. In 2020, it was also rated as the fifth-largest artificial intelligence company. Īlibaba is one of the world's largest retailers and e-commerce companies. As of 2020, Alibaba has the sixth-highest global brand valuation.
In January 2018, Alibaba became the second Asian company to break the US$500 billion valuation mark, after its competitor Tencent. 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. 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 owns and operates a diverse portfolio of companies around the world in numerous business sectors. 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. Alibaba Group Holding Limited, also known as Alibaba Group and, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology.
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