Alibaba Targets  $1 Trillion in Transactions
Economy, Sci & Tech

Alibaba Targets $1 Trillion in Transactions

Chinese e-commerce giant Alibaba Group Holding Ltd. is aiming to double its annual transactions to over $1 trillion within four years, the firm’s chief executive said on Wednesday. “What I can share with you is that in four years we have a very clear goal which is in fiscal 2020. Alibaba wants to be the first company to have a retail market base scale of over $1 trillion, so that is our clear goal in the next three to four years,” Daniel Zhang told a conference in Cape Town, Reuters reported. Alibaba is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, a shopping search engine and data-centric cloud computing services. The group began in 1999 when Jack Ma founded the website Alibaba.com, a business-to-business portal to connect Chinese manufacturers with overseas buyers.

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