News this week:
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).
As reported in 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.
This post is excerpted from BSG's weekly e-newsletter
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