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Alibaba Group Holding Ltd (BABA) Wants To Do Singles Day Globally: Jack Ma

Alibaba Group Holding Ltd (NYSE:BABA) had a wonderful day in this year’s shopping holiday dubbed “Singles’ Day.” The e-commerce giant generated bigger revenue on the day than it ever did on any other Singles’ Day in the past. According to CNBC’s Eunice Yoon, Alibaba founder, Jack Ma, shared his vision of taking Singles’ Day global. Ma also mentioned their financial arm known as Alipay and how it would be good to list the business.

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In this year’s Singles’ Day, Alibaba Group Holding Ltd (NYSE:BABA) tapped more than $9.3 billion in sales, which was 59% higher than the previous year. The sales figure also set a new sales record for such a shopping event for the company.

“It wasn’t always like that. Singles’ Day used to be a day about singles. People would get together and sometimes buy themselves gifts. Now it has become a major consumer holiday here in China and Alibaba has had a lot to do with that. Jack Ma said that he was hoping to bring to this holiday to the world,” said Yoon in a report.

In taking the shopping holiday event global, Alibaba Group Holding Ltd (NYSE:BABA)’s Ma has his eyes set on opportunities in the U.S., Europe and elsewhere in the world. With already a dominant market share in China, Alibaba has always talked about global growth. Gains such as those made on the Singles’ Day this year further validate the company’s global ambitions.

“So, I really cannot imagine how big that would be because I want more people involved. More companies involved in and more offline shops involved in, this is going to be big […],” Ma said concerning Alibaba’s global outlook for the Singles’ Day.

Ma also hinted that Alibaba Group Holding Ltd (NYSE:BABA) could list its financial division, Alipay, to attract more opportunities. The service is already popular in China, but there would a lot of opportunities if more people could come to know about it.

“Ninety percent of the young people if you are using online payment you are using our payment system in China. Everybody sees, wow; that’s big. Anybody watch that for us? Of course, we use the system; we’re using a wonderful technology. We’re using every system we could. But if we can be public, more know about us, more people look on us, that would be good,” said Ma.

Elsewhere, The Wall Street Journal stated in an article that Alibaba Group Holding Ltd (NYSE:BABA) was in discussions with Apple Inc. (NASDAQ:AAPL) to tie-up their payment services. That would mean integrating Alipay into Apple Pay, which is a secure mobile payment platform available on iPhone 6 and iPhone 6 Plus. The service is also available on the new iPads.

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