Alibaba Group hails its shopping sites reached a new milestone

The leading e-commerce company in China, Alibaba Group announced that the annual sales volumes of its online shopping marketplaces – Tmall.com and Taobao.com have surpassed a combined RMB 1 trillion (RM478 billion) for the first time on November last year though Alizila.com, a news website focusing on the e-commerce industry and Alibaba Group.

According to Alibaba Group Chairman and CEO Jack Ma, there are only two companies have ever recorded annual transaction volumes greater than RMB 1 trillion (or the equivalent in Ringgit Malaysia), which are Alibaba and Wal-Mart. Ma added that this achievement means Alibaba will surpass Amazon and eBay to become the largest e-commerce company in the world by annual Gross Merchandise Volume.

by Terry Brown