Alibaba retained its majority share of China’s massive e-commerce market throughout the worst of the pandemic, and the behemoth still has room to grow. Live-streaming—in which brand representatives broadcast to viewers who can purchase items featured in the video—was key to its pandemic strategy. In February it removed service fees for new merchants on its live-streaming platform Taobao Live, and saw the number of new sellers spike 719% compared with the previous month. In April, Alibaba announced it will invest $28 billion in cloud-computing infrastructure over the next three years, a clear signal of its focus on international expansion.
Future 50As of 12/3/20
|Year||Revenues ($M)||Profits ($M)|
Alibaba fires the employee who accused her manager of sexual assault and sparked the company’s #MeToo scandalDecember 13, 2021, 5:22 AM UTC