Alibaba was founded in 1999 by Jack Ma. The company provides consumer-to-consumer, business-to-consumer, and business-to-business sales services via the internet, as well as electronic payment services, shopping search engines, and cloud-computing services.
Alibaba is one of the world’s largest retailers and e-commerce businesses.
In 2020, it was also rated as the fifth-largest artificial intelligence (AI) company in the world. It is also one of the biggest venture capital firms, and one of the biggest investment corporations in the world.
The company has expanded to many different areas, including food.
In 2017, Alibaba started opening a chain of supermarkets, named Hema, as part of the company’s “new retail strategy,” where customers can either order in the store or online for delivery in under 30 minutes.
The company also offers a mobile app that recommends customers’ products based on data analytics. In addition, customers can have their groceries cooked to eat in the food court of the supermarket.
At the end of April 2022, Alibaba stock dropped tremendously after China State Media reported that someone named Ma had been arrested. Everything returned to normal a few days after it was discovered that the arrested person wasn’t CEO and founder Jack Ma.
Alibaba maintains a corporate office in the USA in El Monte, California.