TECH - Alibaba Projects $60B GMV for 2024 Plans New Business Model Breakthroughs | Benzinga
Alibaba Group Holding Limited (NYSE:BABA) projects $60 billion in GMV for its B2B platform Alibaba.com in 2024, marking a 20% increase from last year’s $50 billion.
President Zhang Kuo explained that growth slowed after a sevenfold increase over five years and emphasized the need for new business model breakthroughs, SCMP reports from an interview.
Established in 1999 to connect overseas buyers with Chinese manufacturers, Alibaba.com now links Chinese suppliers with global businesses, contributing to $350 billion in exports last year.
Also Read: Alibaba’s New AI Model Claims to Beat ...