Alibaba Reaches $157B in Sales, Becomes World's Biggest E-commerce Company
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), and 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.