The company credited with the world’s largest Initial Public Offering (IPO), Alibaba.com is looking to compete with the likes of Google and Amazon by making inroads to developing countries with infrastructure deficits including Nigeria says founder and Chairman, Jack Ma.

Speaking to newsmen shortly after the record breaking $25 billion IPO, Jack Ma said because it would be difficult to compete with the likes of
Google and Amazon in the home tuff of the United States, he was looking to expand his business in less organised markets like Nigeria, the Philippines which mirror the physical markets in China.

“That’s the opportunity we could have,” he was quoted as saying by Forbes. “We’re trying to help
Nigerian SMEs sell to the Philippines and the Philippines sell to Pakistan and Pakistan sells to Argentina.

If we can make that happen, that’s
where the money should go.” The Alibaba strategy could be the tonic needed by Nigeria’s SMEs to get on comfortable pedals, which has long been a policy concern in the country.

Forbes magazine hinted that Jack Ma credited much of his success at Alibaba to the small- and medium-sized businesses who buy and sell their goods on his company’s many web properties, but also to the business landscape in China, where
conducting commerce can be an infrastructural nightmare.

“The reason we win in e-commerce in China is because the infrastructure of commerce in China was too bad. Why e-commerce in the U.S. is not
that good is because the infrastructure of commerce was so good, that e-commerce is a
supplement,” he explained.

“In U.S., e-commerce is a dessert. In China, it’s a main course.” Alibaba’s planned inroads into Nigeria, which is part of the Chinese company’s plans to reach 6.5 billion people, could shake up the local industry
currently dominated by the likes of Jumia, Konga and OLX, forcing them to play fringe roles.

Alibaba, an e-commerce company had a record shattering IPO last week, which raised $25 billion,
upstaging Agricultural bank of China’s 2010 offering which raised $22.1 billion in its debut on the Hong Kong Stock Exchange.

The amount raised, says Wired.com makes the company worth more than Amazon, Facebook, IBM and Intel As of midday on Friday, September
19.

On its first day as a publicly traded company on the New York Stock Exchange, shares in the Chinese e-commerce giant shot up by nearly one-third above their initial asking price. The surge put the value of the company at around $228 billion.

The only U.S. tech companies worth more by market cap are Apple ($609 billion), Google ($400 billion), and Microsoft ($387 billion). Ma also said he plans to reinvest the $3 billion he
set aside from the IPO for philanthropy in environmental and educational projects in China to “help those who want to be successful.”

He said that if he, who once made $20 a month, taught himself English, and started Alibaba out of his home, could be successful in China, then anyone could be.

“I never had one day of education in the United States,” Ma proudly boasted. “I’m 100 percent made in China.” Alibaba began trading last Friday on the New York Stock Exchange, with shares opening up at more than 35 percent above the $68 IPO price.

On Monday, shares have fallen below the $90 mark, down more than 4 percent in intraday trading.

Credit Suisse, Deutsche Bank , Goldman Sachs, J.P. Morgan , Morgan Stanley and Citigroup acted as
joint book runners for the offering.



www.wicmedia.com/viewtopic.php?pid=398#p398

It's been long overdue.
Nigeria is one of the largest market in Africa and anyone neglecting us
while venturing into any business in Africa is to his/her own peril

Reading the post, i bet some ideas came into your head,
well if it is one that has to do with tech, i may be of help
I can help you build your idea, create a strong online presence
for your brand.
With my web development and Android app development skills
i can help you build a beautiful website or intuitive mobile app
which aligns with the coporate vision of your organisation.
In case that idea is still in your head
visit: www.udonline.net

I will expecting your email smiley

Some sites i have completed
www.helonyconcept.com
www.chypesfrontline.com
www.botosoftechnologies.com
www.kasemart.com [e-commerce]

The most recent Android app i just published on Google play store

https://play.google.com/store/apps/details?id=com.dmasnig.udcreate