Alibaba has been moving fast, and so has the news surrounding it. Next time you find yourself in a conversation about the company, keep these five points close.
Alibaba has single-handedly made Singles Day the largest shopping day of the year, worldwide. In 2018, the company recorded more than $30 billion in sales within a 24-hour period—twice as much as Black Friday and Cyber Monday in the US, combined, and more sales than McDonald’s made globally in the entire year.
Alibaba’s next step is to become the operating system for global e-commerce. To do that, it wants to capture reams of data, worldwide, about the relationship between customers and vendors. As a result, Alibaba has invested in a wide range of companies—including bike-sharing services, hotels, and automated car washes, to name just a few—that could help it collect that data.