Chinese goliath Alibaba is the one of the world’s largest retailers and ecommerce companies. It comprises three main marketplaces – B2B Alibaba.com, C2C Taobao, and B2C Tmall – all of which sell an eclectic variety of products. Named after the character Ali Baba from the Middle Eastern One Thousand-and-One Nights folk tales, founder Jack Ma chose the name due to its famous association with the phrase “open sesame” – aiming to open the doors from Chinese retailers to the global market. Since its inception in 1999, Alibaba has grown to boast a 60% share of the Chinese ecommerce market. Its primary sales events on November 11, Singles’ Day, offers massive discounts as well as a countdown-to-midnight gala featuring performances from global stars. Alibaba believes this combination of content, community and entertainment marks a new type of interactive retail of the future. Alternative Chinese marketplace JD.com is Tmall’s biggest competitor – and both have overtaken Amazon as the most popular online marketplaces in Russia and India.
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