“We are lucky the business was not started in Beijing or Shanghai,” there, it might have evolved to serve the sophisticated multinationals nearby. Instead, it has aimed at the kind of small businesses that cluster around Hangzhou.

2014-05-22: Alibaba has had massive growth

Alibaba’s transactions totaled $248B (more than eBay and Amazon combined)
Alibaba delivers 5B packages a year. UPS delivers 4.3B
Alibaba’s money market fund went from 0 to 4th largest globally, in 10 months

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