Wednesday, April 6, 2016

Alibaba Surpasses Walmart

Is this evidence of American commerce in decline?

We may not have the exact numbers yet, but in a filing with the SEC on Tuesday, China's online retail behemoth Alibaba Group announced that it had "become the largest retail economy in the world" at the end of its fiscal year on March 31, "as measured by gross merchandise volume (GMV) on its China retail marketplaces." As IBT notes, the company has yet to declare its financial results for its last quarter and the complete fiscal year, but the announcement makes it clear that BABA surpassed the $482.1 billion in 2015 revenues reported by Wal-Mart Stores Inc. for its fiscal year ended Jan. 31.

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Once China's Silk Road is up and running, expect to see more such reports.

By the way, could Alibaba have done this without the assistance of Goldman Sachs?

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