Difference between revisions of "Alibaba"
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Alibaba ranks 23rd on Forbes' Global 2000 2021 list, and 11th on the same magazine's Top 100 Digital Companies 2019.<ref>Alibaba Group. (2021, May 13). Forbes. https://www.forbes.com/companies/alibaba-group/?sh=7da42ff619f5</ref> The Alibaba Group made an estimated $200 billion yuan in the 3rd quarter of 2021, equivalent to about $31 million in USD.<ref>Alibaba Group Announces September Quarter 2021 Results. (2021, November 18). Finance.yahoo.com. https://finance.yahoo.com/news/alibaba-group-announces-september-quarter-112400052.html</ref> Although recently, Alibaba has hit a decline in terms of profit, with the adjusted amount for the month of November 2021 being 28.52 billion. This 39% decline in profit was the company's first in 22 quarters. <ref>Qu, T. (2021, November 18). Alibaba sees first adjusted profit decline in five years. South China Morning Post. https://www.scmp.com/tech/big-tech/article/3156560/alibaba-net-income-plummets-87-cent-resulting-first-adjusted-profit</ref> | Alibaba ranks 23rd on Forbes' Global 2000 2021 list, and 11th on the same magazine's Top 100 Digital Companies 2019.<ref>Alibaba Group. (2021, May 13). Forbes. https://www.forbes.com/companies/alibaba-group/?sh=7da42ff619f5</ref> The Alibaba Group made an estimated $200 billion yuan in the 3rd quarter of 2021, equivalent to about $31 million in USD.<ref>Alibaba Group Announces September Quarter 2021 Results. (2021, November 18). Finance.yahoo.com. https://finance.yahoo.com/news/alibaba-group-announces-september-quarter-112400052.html</ref> Although recently, Alibaba has hit a decline in terms of profit, with the adjusted amount for the month of November 2021 being 28.52 billion. This 39% decline in profit was the company's first in 22 quarters. <ref>Qu, T. (2021, November 18). Alibaba sees first adjusted profit decline in five years. South China Morning Post. https://www.scmp.com/tech/big-tech/article/3156560/alibaba-net-income-plummets-87-cent-resulting-first-adjusted-profit</ref> | ||
| − | The technology company has been at the center of multiple ethical concerns. Alibaba has a reputation for hosting numerous counterfeit sellers on their websites, with an estimated 70% of all counterfeit goods originating from China.<ref>https://fortune.com/2017/05/06/alibaba-jack-ma-donald-trump-owner-group-china/</ref> Because millions of Chinese workers produce large quantities of counterfeit goods, the Chinese government abstains from persecuting the counterfeiting issue. In 2021, the Chinese government took steps in regulating Alibaba by issuing a $2.8 billion fine for violating anti-monopoly regulations. In response, the Alibaba Group did not deny the accusation, and resolved to paying the $69 billion fine, 4% of Alibaba's total sales in 2019.<ref>https://www.npr.org/2021/04/10/986112628/china-fines-alibaba-2-8-billion-for-breaking-anti-monopoly-law</ref> Most recently, the ecommerce company is under fire for sexual misconduct allegations after a female employee wrote an 11-page essay detailing her experiences with assault in the firm.<ref>https://qz.com/2044385/alibaba-rape-allegation-prompts-reflection-on-toxic-work-culture/</ref> | + | The technology company has been at the center of multiple ethical concerns. Alibaba has a reputation for hosting numerous counterfeit sellers on their websites, with an estimated 70% of all counterfeit goods originating from China.<ref>Doggett, J. (2017, May 6). Why American Companies Can’t Trust Alibaba. Fortune. https://fortune.com/2017/05/06/alibaba-jack-ma-donald-trump-owner-group-china/</ref> Because millions of Chinese workers produce large quantities of counterfeit goods, the Chinese government abstains from persecuting the counterfeiting issue. In 2021, the Chinese government took steps in regulating Alibaba by issuing a $2.8 billion fine for violating anti-monopoly regulations. In response, the Alibaba Group did not deny the accusation, and resolved to paying the $69 billion fine, 4% of Alibaba's total sales in 2019.<ref>Moore, E. (2021, April 10). China Fines Alibaba $2.8 Billion For Breaking Anti-Monopoly Law. NPR.org. https://www.npr.org/2021/04/10/986112628/china-fines-alibaba-2-8-billion-for-breaking-anti-monopoly-law</ref> Most recently, the ecommerce company is under fire for sexual misconduct allegations after a female employee wrote an 11-page essay detailing her experiences with assault in the firm.<ref>Li, J. (2021, September 8). A rape allegation at Alibaba has prompted an outpouring in China about toxic work culture. Quartz. https://qz.com/2044385/alibaba-rape-allegation-prompts-reflection-on-toxic-work-culture/</ref> |
==History== | ==History== | ||
| − | The founder of Alibaba, Jack Ma, was born on September 10th, 1964.<ref>https://www.thestreet.com/world/history-of-alibaba-15145103</ref> Ma had originally wanted to become an English teacher, but after securing a teacher position and failing to attend Harvard University, he recognized a hole in the Chinese ecommerce market. Starting with $35 million, Jack and his group of 18 technological pioneers created Alibaba. Two years later, in December 2001, Alibaba.com surpassed 1 million registered users.<ref>https://www.alibabagroup.com/en/about/history?year=2001</ref> Eventually funded with more venture capital, the Alibaba Group added more websites to their roster like Taobao.com, Aliwangwang (a messaging application that made it easier to look up consumer goods), and Alipay. Later on in 2005, Alibaba was allowed to partner with the United States web service provider, Yahoo.<ref>https://www.thestreet.com/world/history-of-alibaba-15145103</ref> Since then, Jack Ma has stepped down as CEO of the group, as well as from his chairman position in 2019.<ref>https://www.investopedia.com/news/alibabas-jack-ma-step-down-year/</ref> In his place, current CEO of the Alibaba Group, Daniel Zhang, will take his place as chairman. As recently as November 2019, the Alibaba Group was listed on the Main Board of Hong Kong's stock exchange.<ref>https://www.alibabagroup.com/en/about/history?year=2019</ref> | + | The founder of Alibaba, Jack Ma, was born on September 10th, 1964.<ref>O’Connell, B. (2019, October 30). History of Alibaba: Timeline and Facts. TheStreet. https://www.thestreet.com/world/history-of-alibaba-15145103</ref> Ma had originally wanted to become an English teacher, but after securing a teacher position and failing to attend Harvard University, he recognized a hole in the Chinese ecommerce market. Starting with $35 million, Jack and his group of 18 technological pioneers created Alibaba. Two years later, in December 2001, Alibaba.com surpassed 1 million registered users.<ref>Alibaba Group. (n.d.). Www.alibabagroup.com. Retrieved January 28, 2022, from https://www.alibabagroup.com/en/about/history?year=2001</ref> Eventually funded with more venture capital, the Alibaba Group added more websites to their roster like Taobao.com, Aliwangwang (a messaging application that made it easier to look up consumer goods), and Alipay. Later on in 2005, Alibaba was allowed to partner with the United States web service provider, Yahoo.<ref>O’Connell, B. (2019, October 30). History of Alibaba: Timeline and Facts. TheStreet. https://www.thestreet.com/world/history-of-alibaba-15145103</ref> Since then, Jack Ma has stepped down as CEO of the group, as well as from his chairman position in 2019.<ref>Liberto, D. (2019, October 9). Jack Ma Steps Down As Alibaba Celebrates 20 Years. Investopedia. https://www.investopedia.com/news/alibabas-jack-ma-step-down-year/</ref> In his place, current CEO of the Alibaba Group, Daniel Zhang, will take his place as chairman. As recently as November 2019, the Alibaba Group was listed on the Main Board of Hong Kong's stock exchange.<ref>Alibaba Group. (2019b). Alibabagroup.com. https://www.alibabagroup.com/en/about/history?year=2019</ref> |
==Website== | ==Website== | ||
==Ethical Issues== | ==Ethical Issues== | ||
===Environmental Flaws=== | ===Environmental Flaws=== | ||
| − | Alibaba and its logistics child company, Cainiao, have attempted to move towards environmentally friendly packaging techniques in the past, including using biodegradable plastics. Coming from the Western-targeted online magazine Sixth Tone in 2017, a toxics campaigner at Beijing's Greenpeace, Liu Hua, argued that the biodegradable plastics that Cainiao intended to roll out by 2020 would only biodegrade under specific circumstances.<ref>https://www.sixthtone.com/news/1001165/environmentalists-criticize-alibabas-green-packaging</ref> The criteria involved in order for the packaging materials to biodegrade would lead to most of the packaging remaining in place in landfills. Cainiao's promotional material explained that the green materials will biodegrade in 180 days. Though, according to a researcher at the Rock Environment and Energy Institute in Beijing, Mao Da, the materials would only biodegrade in 180 days in a composting plant, of which are few in China.<ref>https://www.sixthtone.com/news/1001165/environmentalists-criticize-alibabas-green-packaging</ref> | + | Alibaba and its logistics child company, Cainiao, have attempted to move towards environmentally friendly packaging techniques in the past, including using biodegradable plastics. Coming from the Western-targeted online magazine Sixth Tone in 2017, a toxics campaigner at Beijing's Greenpeace, Liu Hua, argued that the biodegradable plastics that Cainiao intended to roll out by 2020 would only biodegrade under specific circumstances.<ref>Wang Lianzhang. (2016). Environmentalists Criticize Alibaba’s “Green” Packaging. Sixth Tone. https://www.sixthtone.com/news/1001165/environmentalists-criticize-alibabas-green-packaging</ref> The criteria involved in order for the packaging materials to biodegrade would lead to most of the packaging remaining in place in landfills. Cainiao's promotional material explained that the green materials will biodegrade in 180 days. Though, according to a researcher at the Rock Environment and Energy Institute in Beijing, Mao Da, the materials would only biodegrade in 180 days in a composting plant, of which are few in China.<ref>Wang Lianzhang. (2016). Environmentalists Criticize Alibaba’s “Green” Packaging. Sixth Tone. https://www.sixthtone.com/news/1001165/environmentalists-criticize-alibabas-green-packaging</ref> |
==References== | ==References== | ||
Revision as of 17:09, 28 January 2022
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A
libaba Group Holding Limited, or Alibaba, is a Chinese multinational online ecommerce and technology company. Over the last year alone, Alibaba's online sites totaled $248 billion in transactions, making the website one of the fastest growing ecommerce stores.[1] Further, an estimated 80% of the Chinese online commerce markets is controlled by the Alibaba Group.[2] The website was founded in 1999 by Jack Ma and 17 others in Hangzhou, China. Since the platform was open to everyone who had access to the Internet, the founders' philosophy was that the website would allow smaller companies and technological innovation to thrive in global markets.[3] Alibaba, in addition to maintaining Alibaba.com, also owns taobao.com and tmall.com, both widely used online shopping stores by the Chinese customer base.[4] Alibaba makes the majority of its revenue through hosting advertisements on its websites.[5]
Alibaba ranks 23rd on Forbes' Global 2000 2021 list, and 11th on the same magazine's Top 100 Digital Companies 2019.[6] The Alibaba Group made an estimated $200 billion yuan in the 3rd quarter of 2021, equivalent to about $31 million in USD.[7] Although recently, Alibaba has hit a decline in terms of profit, with the adjusted amount for the month of November 2021 being 28.52 billion. This 39% decline in profit was the company's first in 22 quarters. [8]
The technology company has been at the center of multiple ethical concerns. Alibaba has a reputation for hosting numerous counterfeit sellers on their websites, with an estimated 70% of all counterfeit goods originating from China.[9] Because millions of Chinese workers produce large quantities of counterfeit goods, the Chinese government abstains from persecuting the counterfeiting issue. In 2021, the Chinese government took steps in regulating Alibaba by issuing a $2.8 billion fine for violating anti-monopoly regulations. In response, the Alibaba Group did not deny the accusation, and resolved to paying the $69 billion fine, 4% of Alibaba's total sales in 2019.[10] Most recently, the ecommerce company is under fire for sexual misconduct allegations after a female employee wrote an 11-page essay detailing her experiences with assault in the firm.[11]
History
The founder of Alibaba, Jack Ma, was born on September 10th, 1964.[12] Ma had originally wanted to become an English teacher, but after securing a teacher position and failing to attend Harvard University, he recognized a hole in the Chinese ecommerce market. Starting with $35 million, Jack and his group of 18 technological pioneers created Alibaba. Two years later, in December 2001, Alibaba.com surpassed 1 million registered users.[13] Eventually funded with more venture capital, the Alibaba Group added more websites to their roster like Taobao.com, Aliwangwang (a messaging application that made it easier to look up consumer goods), and Alipay. Later on in 2005, Alibaba was allowed to partner with the United States web service provider, Yahoo.[14] Since then, Jack Ma has stepped down as CEO of the group, as well as from his chairman position in 2019.[15] In his place, current CEO of the Alibaba Group, Daniel Zhang, will take his place as chairman. As recently as November 2019, the Alibaba Group was listed on the Main Board of Hong Kong's stock exchange.[16]
Website
Ethical Issues
Environmental Flaws
Alibaba and its logistics child company, Cainiao, have attempted to move towards environmentally friendly packaging techniques in the past, including using biodegradable plastics. Coming from the Western-targeted online magazine Sixth Tone in 2017, a toxics campaigner at Beijing's Greenpeace, Liu Hua, argued that the biodegradable plastics that Cainiao intended to roll out by 2020 would only biodegrade under specific circumstances.[17] The criteria involved in order for the packaging materials to biodegrade would lead to most of the packaging remaining in place in landfills. Cainiao's promotional material explained that the green materials will biodegrade in 180 days. Though, according to a researcher at the Rock Environment and Energy Institute in Beijing, Mao Da, the materials would only biodegrade in 180 days in a composting plant, of which are few in China.[18]
References
- ↑ WSJ.com News Graphics. (2019). What is Alibaba? The Wall Street Journal. https://graphics.wsj.com/alibaba/
- ↑ WSJ.com News Graphics. (2019). What is Alibaba? The Wall Street Journal. https://graphics.wsj.com/alibaba/
- ↑ Alibaba Group. (2019). Alibabagroup.com. https://www.alibabagroup.com/en/about/history
- ↑ Broad, M. (2014, September 14). What exactly is Alibaba? BBC News. https://www.bbc.com/news/business-29077495
- ↑ Broad, M. (2014, September 14). What exactly is Alibaba? BBC News. https://www.bbc.com/news/business-29077495
- ↑ Alibaba Group. (2021, May 13). Forbes. https://www.forbes.com/companies/alibaba-group/?sh=7da42ff619f5
- ↑ Alibaba Group Announces September Quarter 2021 Results. (2021, November 18). Finance.yahoo.com. https://finance.yahoo.com/news/alibaba-group-announces-september-quarter-112400052.html
- ↑ Qu, T. (2021, November 18). Alibaba sees first adjusted profit decline in five years. South China Morning Post. https://www.scmp.com/tech/big-tech/article/3156560/alibaba-net-income-plummets-87-cent-resulting-first-adjusted-profit
- ↑ Doggett, J. (2017, May 6). Why American Companies Can’t Trust Alibaba. Fortune. https://fortune.com/2017/05/06/alibaba-jack-ma-donald-trump-owner-group-china/
- ↑ Moore, E. (2021, April 10). China Fines Alibaba $2.8 Billion For Breaking Anti-Monopoly Law. NPR.org. https://www.npr.org/2021/04/10/986112628/china-fines-alibaba-2-8-billion-for-breaking-anti-monopoly-law
- ↑ Li, J. (2021, September 8). A rape allegation at Alibaba has prompted an outpouring in China about toxic work culture. Quartz. https://qz.com/2044385/alibaba-rape-allegation-prompts-reflection-on-toxic-work-culture/
- ↑ O’Connell, B. (2019, October 30). History of Alibaba: Timeline and Facts. TheStreet. https://www.thestreet.com/world/history-of-alibaba-15145103
- ↑ Alibaba Group. (n.d.). Www.alibabagroup.com. Retrieved January 28, 2022, from https://www.alibabagroup.com/en/about/history?year=2001
- ↑ O’Connell, B. (2019, October 30). History of Alibaba: Timeline and Facts. TheStreet. https://www.thestreet.com/world/history-of-alibaba-15145103
- ↑ Liberto, D. (2019, October 9). Jack Ma Steps Down As Alibaba Celebrates 20 Years. Investopedia. https://www.investopedia.com/news/alibabas-jack-ma-step-down-year/
- ↑ Alibaba Group. (2019b). Alibabagroup.com. https://www.alibabagroup.com/en/about/history?year=2019
- ↑ Wang Lianzhang. (2016). Environmentalists Criticize Alibaba’s “Green” Packaging. Sixth Tone. https://www.sixthtone.com/news/1001165/environmentalists-criticize-alibabas-green-packaging
- ↑ Wang Lianzhang. (2016). Environmentalists Criticize Alibaba’s “Green” Packaging. Sixth Tone. https://www.sixthtone.com/news/1001165/environmentalists-criticize-alibabas-green-packaging
