Alibaba’s success is no secret. From its humble beginnings in Jack Ma’s Hangzhou apartment, the company has evolved and grown into an e-commerce empire known internationally. What exactly is it about Alibaba that has enabled it to flourish? Here are seven fundamental reasons for its ground-breaking success.
Alibaba: a brief history
Alibaba was initially founded in Jack Ma’s apartment in Hangzhou in 1999, before Alibaba.com was launched later that same year. In 2003, as the number of Internet users in China reached 80 million, according to Alibaba’s prospectus, Taobao.com was launched as an online market. Shortly afterwards, both Alipay and…