Friday, October 12, 2012

Alibaba is most valuable private tech company

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 (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 which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

No comments: