MOSCOW, September 25 (RIA Novosti) - E-commerce giant Alibaba Group was named the most successful company in China by the Fortune China ranking released on Thursday.
The ranking follows the company's initial public offering making, where Alibaba raised $25.3 billion making it the biggest IPO in history.
Alibaba group was founded in April 1999 in Hangzhou, China by Jack Ma, a former English teacher. Today, according to the Chinese media, Jack Ma is not only the wealthiest person in China, but also more popular online than movie star Jet Li, as he has 15.8 million followers on a Chinese microblogging website Sina Weibo.
With more than 270 million active buyers at the company's most popular online shopping websites Taobao, Aliexpress and Tmall and an annual revenue of $8.5 billion in 2013, Chinese Alibaba is considered to be a growing threat to the western e-commerce giants Amazon and E-bay.