In the fiscal year ending March 31, 2024, Chinese e-commerce corporation Alibaba Group recorded consolidated revenues of around 941.17 billion yuan. This translates to approximately 130.35 billion U.S. dollars.
AlibabaAlibaba was originally founded in 1999 as a B2B e-commerce portal to connect Chinese manufacturers with overseas buyers. In 2003, the service expanded to include Taobao, a C2C e-commerce marketplace and in 2008 Tmall, a B2C online commerce platform focused on brands and online retail. To round off the digital offerings, group shopping and flash sale website Juhuasuan was launched in 2010.
Overall, the largest portion of Alibaba Group revenues are generated through Chinese-based e-commerce as company data states 582.73 billion yuan segment revenue in 2023. That year, retail e-commerce in China accounted for 65 percent of company revenue. International commerce retail totaled 49.9 billion yuan of annual revenues. In that year, Alibaba Group’s net income amounted to 65.57 billion yuan, increasing steadily from over 47 billion yuan in the previous year
The group’s monetization model relies heavily on online marketing services including P2P marketing services, display marketing and promoted selling as well as commissions on transactions and storefront fees. Alibaba’s Chinese retail marketplaces had around 903 billion annual active buyers.
Alibaba also holds stakes in online video company Youku Tudou and entertainment company Alibaba Pictures.
