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Chinese e-commerce giant Alibaba sold one trillion RMB worth of goods in 2012, the company announced today. That’s $157 billion U.S. in gross merchandise volume (GMV), which easily surpasses U.S e-commerce giants Amazon and eBay combined.
In fact, Alibaba chairman Jack Ma said only two companies have ever recorded annual transaction volumes at this level: Wal-Mart and Alibaba.
Alibaba — which recorded $3 billion in sales in a single day earlier this year — is a conglomerate primarily composed of Tmall, which manages e-commerce operations for thousands of companies in China, and Taobao Marketplace, a rough equivalent of eBay. All payments are handled by Alipay, the company’s own payments processor, and Alipay has over 700 million registered users — with credit card information.
Read more:
Alibaba reaches 1 trillion RMB ($157B) in sales to become biggest e-commerce company in the world | VentureBeat
In fact, Alibaba chairman Jack Ma said only two companies have ever recorded annual transaction volumes at this level: Wal-Mart and Alibaba.
Alibaba — which recorded $3 billion in sales in a single day earlier this year — is a conglomerate primarily composed of Tmall, which manages e-commerce operations for thousands of companies in China, and Taobao Marketplace, a rough equivalent of eBay. All payments are handled by Alipay, the company’s own payments processor, and Alipay has over 700 million registered users — with credit card information.
Read more:
Alibaba reaches 1 trillion RMB ($157B) in sales to become biggest e-commerce company in the world | VentureBeat
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