The headquarters of the Alibaba Group are in Hangzhou, China.

CN – The Chinese online marketplace operator, Alibaba, increased its turnover by 60% up to 5.6 bil. US Dollars (approx. 5 bil. Euros) in the first quarter of 2017 compared to the same quarter of the previous year. For the fiscal year 2016, the E-Commerce group that was founded 18 years ago by Jack Ma, achieved a 56% increase in turnover up to 22.9 billion US Dollars (approx. 20 bil. Euros). According to Alibaba the online trade in China, the Cloud business as well as the take-over of the Chinese video portal, Youku Tudou, and the Southern Asiatic online trade platform, Lazada, were mainly responsible for the increased turnover figures. The turnover in the E-Commerce segment rose by 47% in the first quarter. In the Cloud computing sector, Alibaba was able to more than triple its turnover and in the digital media and entertainment division, the company achieved an increase of 234%.


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