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