Bloomberg summarized most of the fundamental information on Alibaba Group Holding Ltd (NYSE:BABA), which is currently the 7th largest legal entity in the world by market capitalization. The company was founded 15 years ago with $60,000 seed investment and worked as online yellow pages since April 4 1999. Now, it has almost $290 billion in market cap and is championed by Jack Ma, whose management is in full control of Alibaba Group Holding Ltd (NYSE:BABA) despite the sheer 8% stake that the tycoon has.
With approximately 35.5% spike in price throughout last month, to a price of about $116.1, Alibaba Group Holding Ltd (NYSE:BABA) does not prioritize shareholder’s opinion, because the firm’s CEO, a 50-year old entrepreneur, believes that the most important stakeholders that can describe or ascribe the long-term future of a company are customers. On the second place are workers, who must deliver the needed products and services to the customers. So, shareholders come third in this game and they find it particularly cumbersome to try and somehow change the e-commerce titan.
Alibaba Group Holding Ltd (NYSE:BABA) sees also great potential in the rising power of the Internet as the current figures of 632 million, for the number representing people with internet access in China, might get as far as 850 million. It’s no wonder why Apple Inc. (NASDAQ:AAPL) did not deny any further cooperation in bringing a better Apple Pay. Taking transaction volume into consideration makes one be more confident of the fact that there’s only benefit from any mutual obligation between the two. Alibaba Group Holding Ltd (NYSE:BABA) plans to arrange deals summing up to $8.2 billion only for the Valentine’s Day. Most probably, Apple Inc. (NASDAQ:AAPL) is not after the big turnarounds or impressive numbers, rather in for the immense products’ range that the Chinese talent has on its website.
These kind of relationships will allow Alibaba Group Holding Ltd (NYSE:BABA) get out of its home country’s borders without having the need to rush into expansionary strategies. It has already spent more than $16 billion in deals that would assure growth.
Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.