The plans for global expansion of Alibaba have been stressed by the company`s CEO, Daniel Zhang, indiatimes.com reports. Alibaba`s revenue comes from its dominant domestic online marketplaces, but the company has been investing in a range of sectors abroad. Zhang has also stressed that Alibaba will develop a global team and adopt a global thinking to manage the business, and achieve the buy and sell process in a globalised market.
Alibaba, which handles more transactions on its platforms than Amazon.com Inc and eBay Inc combined, would continue to invest in new and existing overseas operations. Those included AliExpress, a platform for overseas consumers to buy Chinese goods, and Tmall Global, a marketplace for overseas goods to be sold online in China.
In Q1, 2015 Alibabas revenue from China commerce grew 39% to USD 2.2 billion. International commerce grew 27% to USD 264 million and only accounted for 9% of revenue, compared to 11% in the same period of 2014. The company says that some of its larger overseas markets include Brazil and Russia. The company and its affiliates are also making overtures in India, where it is in talks with phone maker Micromax Informatics to buy a USD 1.2 billion stake. For the US, Alibaba is planning a major move to win business in 2015, by offering US retailers new ways to sell to Chinas growing middle class.
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