Alibaba chairman will be meeting with business owners in the US to lure them into China.
After Alibaba Group holding Ltd blockbuster Initial Public Offering, the company has taken steps to reach outside China. The $225 billion worth of company is yet to excite shareholders with its global operations.
Alibaba’s executive chairman and founder, Jack Ma, is in United States this week, as per Bloomberg, trying to put efforts to expand the services of the company in US. While, the revenue of Alibaba grew at a good pace of 45% year over year in the latest quarter, the company is witnessing issues form the steady growth of economy in the home country. GDP of China grew at a yearly rate of 7% in the first quarter of 2015, 7.3% less than the previous quarter of 2014.
Mr. Ma is planned to address some big companies’ leaders in New York City, also a lunch with Economic Club members. He will then go to Chicago, where he is going to hold a town hall meeting with approximately 300 executives and entrepreneurs. He is also scheduled to meet Rahm Emanuel, mayor of Chicago.
One policy that the company has been discovering is taking United States sellers to China consumers. The company’s online platform has nearly 350 million yearly buyers, with annual GMV of almost $400 billion in fiscal year 2014. Jack Ma has set the target for Alibaba to have global sales making up approximately half of Alibaba’s topline.
International Corporate Affair’s Vice President, Jennifer Kuperman also said that Alibaba wants to support businesses and entrepreneurs in the US. She stated, “Alibaba’s international ambition is to help Chinese consumers get the American products they want, and in turn, create jobs and increase exports to China from the United States.”
The Chines Company exhibited its global expansion intent during the start of the year when it released a data center with in Silicon Valley to provide a push to its cloud computing business in the US.
Therefore, the company is emphasizing more on bringing the US sellers close to the Chinese consumers, instead of going after the buyer in US. Earlier last month, newly appointed CEO of Alibaba, Daniel Zhang said that international expansion was the number one priority for the company.
Baba stock has assembled more than 10% since it announced the strong quarterly results last month. Before that, the stock has a miserable year dropping from $104.24 at the start of the year to its all-time low of $77.77.
In spite of the fall, the Street is still bullish on the company. Out of 51 analysts, 45 gave the stock a Buy; while only one suggest a Sell rating to the Alibaba stock.
After Alibaba Group holding Ltd blockbuster Initial Public Offering, the company has taken steps to reach outside China. The $225 billion worth of company is yet to excite shareholders with its global operations.
Alibaba’s executive chairman and founder, Jack Ma, is in United States this week, as per Bloomberg, trying to put efforts to expand the services of the company in US. While, the revenue of Alibaba grew at a good pace of 45% year over year in the latest quarter, the company is witnessing issues form the steady growth of economy in the home country. GDP of China grew at a yearly rate of 7% in the first quarter of 2015, 7.3% less than the previous quarter of 2014.
Mr. Ma is planned to address some big companies’ leaders in New York City, also a lunch with Economic Club members. He will then go to Chicago, where he is going to hold a town hall meeting with approximately 300 executives and entrepreneurs. He is also scheduled to meet Rahm Emanuel, mayor of Chicago.
One policy that the company has been discovering is taking United States sellers to China consumers. The company’s online platform has nearly 350 million yearly buyers, with annual GMV of almost $400 billion in fiscal year 2014. Jack Ma has set the target for Alibaba to have global sales making up approximately half of Alibaba’s topline.
International Corporate Affair’s Vice President, Jennifer Kuperman also said that Alibaba wants to support businesses and entrepreneurs in the US. She stated, “Alibaba’s international ambition is to help Chinese consumers get the American products they want, and in turn, create jobs and increase exports to China from the United States.”
The Chines Company exhibited its global expansion intent during the start of the year when it released a data center with in Silicon Valley to provide a push to its cloud computing business in the US.
Therefore, the company is emphasizing more on bringing the US sellers close to the Chinese consumers, instead of going after the buyer in US. Earlier last month, newly appointed CEO of Alibaba, Daniel Zhang said that international expansion was the number one priority for the company.
Baba stock has assembled more than 10% since it announced the strong quarterly results last month. Before that, the stock has a miserable year dropping from $104.24 at the start of the year to its all-time low of $77.77.
In spite of the fall, the Street is still bullish on the company. Out of 51 analysts, 45 gave the stock a Buy; while only one suggest a Sell rating to the Alibaba stock.