Growing from a simple beginning of only 18 people in the year 1999 in China, the company has been able to achieve one of the top spots in B2B and B2C business services. The business has grown from a small business within the local area, to one with international markets. To Its founder, Jack Ma goes the credit of its growth.
Through its online marketing, Alibaba has been able to provide various search engine services like cloud computing services and mobile payment facilities.
Other services such as cloud computing, entertainment, digital media, and logistic support are also provided.
Apart from Alibaba, Tencent is another company from China is included in the top 10 bracket.
Tencent from Shenzhen has the fifth spot in the top 10 bracket from 2017 and has seen great leaps in trade from year to year. Companies ahead of it are Google, Apple, Amazon, and Microsoft, occupying the first 4 spots.
With a market capital of $490 billion, it has a value that is more than JPMorgan Chase.
Alibaba has the ninth spot after Facebook, Visa and McDonald’s and is placed before AT&T.
Alibaba is becoming one of the prominent e-commerce platforms in the world, says Doren Wang, the BrandZ head. She says that the company faces stiff competition from the more famous brands and also due to lack of global awareness for Chinese brands.
BrandZ is an annual publication of WPP and Kantar Millward Brown.
The e-commerce massive outreach to global customers has helped Tmall growth for many American businesses. It is said to be the marketplace to almost $550 billion sales per year.
We support an open and fair competition that is best for users and brand, says the company. However, big companies claim that there is bias against companies that do not comply with certain conditions of Alibaba.