When it comes to building an empire in a volatile global market, it's not enough to just think big. You also need to act fast at the same time.
Within a year, Alibaba Group Holding Ltd, an Internet giant that owns China's largest online marketplace Taobao.com, has transformed itself from a domestic e-commerce company into a multinational conglomerate involved in finance, culture, media, soccer, education, and more.
Back in 1999, it was a mere startup in East China's Zhejiang province with only 18 employees.
The high-profile expansion comes as the company gears up for its initial public offering on Wall Street. The much-highlighted event is expected to overtake Facebook as the largest ever tech IPO in the world.
Some have greeted the move with doubts, however, fearing the company may suffer from growing pains or from the breathtakingly speed of expansion.
Before you jump to a conclusion, take a look at some of Alibaba's moves over the past six months.
Top 10 Guangzhou Evergrande Football Club
Investment: $192 million
Share: 50 percent
Date: June 5
Alibaba agreed to pay 1.2 billion yuan ($192 million) for a 50 percent stake in the Guangzhou Evergrande Football Club, the most successful Chinese club.>>> more
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Jack Ma (R), founder and chairman of Alibaba Group, and Xu Jiayin (L), Chairman of Guangzhou Evergrande Group, raise thumbs up at the deal-signing ceremony in Guangzhou, South China's Guangdong province on June 5, 2014. [Photo / IC] |
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