Jack Ma, the charismatic, bombastic founder of e-commerce megagiant Alibaba, officially resigned as the company’s chairman in September to pursue philanthropic work. But his creation, Alibaba, has proved resilient, boasting a market cap of $446 billion. In addition to weathering Ma’s departure, the company more than doubled net profit in the most recent quarter, despite the Chinese economy’s ongoing slowdown and trade war tensions with the U.S. Growth projections are strong despite protests in Hong Kong that forced Alibaba to delay its listing on the city’s exchange. But Alibaba isn’t stopping with e-commerce: The company is rapidly expanding its cloud services and payments businesses. Alibaba says its mobile payments service, Alipay, has over 1 billion active users.
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|Industry||Internet and Direct Marketing Retail|
|HQ Location||Hangzhou, China|
|Revenues ($M) (Past 12 Months)||$60,198|
|Profits ($M) (Past 12 Months)||$14,742|
|Market Value as of Oct. 9, 2019 ($M)||$430,084|