Chinese language e-commerce titan Alibaba Group Holding Ltd doesn’t need to battle for US market share however as an alternative hopes to assist small US companies promote extra items in China, Government Chairman Jack Ma stated.
Ma is visiting the USA this week to elucidate Alibaba’s international technique and to “assist dispel misconceptions” concerning the firm, spokesman Greg Jenkins stated in an e-mail.
“We’re not coming right here to compete,” Ma advised the Financial Membership of New York on Tuesday.
The huge bulk of Alibaba’s income comes from its dominant home on-line marketplaces, however the firm has been investing aggressively in a variety of sectors overseas.
Nonetheless, it has taken what quantities to a conservative strategy to increasing within the US, opposite to business hypothesis that it might be plotting a direct assault on US soil after its record-breaking US$25 billion IPO in September.
Ma stated he’s frequently requested when Alibaba will “invade” America and do battle with Amazon.com Inc and Ebay Inc. Final yr, the corporate debuted a small direct-to-consumer US portal, 11Primary.com, which is a set of Web storefronts for smaller companies.
“The chance and the technique for us helps small enterprise in America go to China, promote their merchandise to China,” Ma stated.
The longer term for Alibaba is in constructing its e-commerce infrastructure past China’s borders, he stated.
Within the first quarter, Alibaba’s income from China commerce grew 39 % to US$2.2 billion. Worldwide commerce grew 27 % to US$264 million and solely accounted for 9 % of income, in contrast with 11 % in the identical interval a yr earlier.
Alibaba says a few of its bigger abroad markets embrace Brazil and Russia.