Difference between revisions of "Alibaba"

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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>https://www.scmp.com/tech/big-tech/article/3156560/alibaba-net-income-plummets-87-cent-resulting-first-adjusted-profit</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>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.  
+
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>
 
==History==
 
==History==
  

Revision as of 15:47, 28 January 2022

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Alibaba
Alibaba.png
Alibabahq.jpeg
"Alibaba Logo" Site
Type Technology company
Launch Date 1999
Status Active
Product Line E-commerce
Technology
Retail
Platform Cloud Service
Android Tablet
Android App
iOs App
Website www.alibaba.com/
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

Website

Ethical Issues

  1. https://graphics.wsj.com/alibaba/
  2. https://graphics.wsj.com/alibaba/
  3. https://www.alibabagroup.com/en/about/history
  4. https://www.bbc.com/news/business-29077495
  5. https://www.bbc.com/news/business-29077495
  6. https://www.forbes.com/companies/alibaba-group/?sh=7da42ff619f5
  7. https://finance.yahoo.com/news/alibaba-group-announces-september-quarter-112400052.html
  8. https://www.scmp.com/tech/big-tech/article/3156560/alibaba-net-income-plummets-87-cent-resulting-first-adjusted-profit
  9. https://fortune.com/2017/05/06/alibaba-jack-ma-donald-trump-owner-group-china/
  10. https://www.npr.org/2021/04/10/986112628/china-fines-alibaba-2-8-billion-for-breaking-anti-monopoly-law
  11. https://qz.com/2044385/alibaba-rape-allegation-prompts-reflection-on-toxic-work-culture/