According to the latest media reports, Chinese e-commerce company Alibaba Group is now the most valuable private tech company in the world. Alibaba is now worth an estimated US$40 billion based on the company’s recent buyback of half of the shares held by Yahoo.
According to a ranking list compiled by Business Insider, Alibaba’s next closest competitors are financial news outlet Bloomberg (US$35 billion), micro-blogging network – Twitter (US$5.3 billion), and the competing Chinese e-commerce platform 360buy.com (US$5 billion).
Yahoo’s latest stock filings in the U.S., Alibaba Group recorded a net profit of US$235 million in the first quarter of 2012, up 356% year-on-year. Alibaba’s consumer-focused subsidiaries, Taobao and Tmall, are expecting more than US$157 billion worth of transactions this year, up 150% from the US$63.7 billion recorded in 2010.
Source: Business Strategies Group Hong Kong – www.bsgasia.com – A cofounder of BIIA