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Alibaba, the world’s biggest ecommerce companies is forecasting that its annual revenue will grow between 45% and 49%. This exceeds the vast majority of leading analysts predictions by about 10% and even made many investors who were present at the ecommerce group’s headquarters gasp in amazement and break out into spontaneous applause.

Whilst most analysts across the world had expected annual growth revenue to come in at around $31.42 billion, Alibaba is confident that they will see growth of $34.3 billion. This puts Alibaba on track for its largest ever underlying rise so far in its short history.

The Rise Of Alibaba

Alibaba is today the world’s largest retailer after surpassing Walmart in April 2016. As well as being one of the largest internet compamies in the world, it operates in over 200 countries and generates more gross merchandise volume than both Amazon and eBay combined. In terms of profits and sales, Alibaba’s have surpassed all retailers in the USA (including eBay, Amazon and Walmart) since 2015.

Alibaba was actually founded in Malaysia and the name came from the character Ali Baba who is a character in One Thousand and One Nights. It appealed as a name to the founder Jack Ma because of its universal appeal. Jack Ma once explained it in an interview:

“One day I was in Malaysia in a coffee shop, and I was thinking Alibaba is a good name. And then a waitress came, and I said, “Do you know about Alibaba?” And she said yes. I said, “What do you know about?”, and she said, “Open Sesame”. And I said, “Yes, this is the name!” Then I went on to the street and found 30 people and asked them, “Do you know Alibaba?” People from India, people from Germany, people from Tokyo and China … they all knew about Alibaba. Alibaba – open sesame. Alibaba is a kind, smart business person, and he helped the village. So … easy to spell, and globally known. Alibaba opens sesame for small- to medium-sized companies. We also registered the name “Alimama”, in case someone wants to marry us!”

Jack Ma, a former English teacher was the leader of a group of 18 people who founded the group who from the outset knew that the internet would level the playing field. This would help enable small enterprises to leverage innovation and technology to grow and compete more effectively in the domestic and global economies. Its initial website was a small site that was there to help Chinese manufacturers and entrepreneurs to sell internationally, but this has now grown to be the biggest ecommerce business in the world in less than 20 years. Its latest predictions make it look like this will be the case for a long time to come.

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