Alibaba is a company from China, Alibaba Group Holding Limited listed itself as the most valuable company in Asia in 2019. The market value of companies listed on the New York Stock Exchange (NYSE) was recorded at US $ 570 billion or equivalent to Rp9,980 trillion.
As reported by Asian Nikkei Review sources, since 2014 Alibaba has recorded very significant growth. The development of the technology cycle and the support of investors has been a factor in alibaba’s development to date.
The value of Alibaba listed on the NYSE on December 20, 2014 is ranked seventh. Alibaba’s position is one level below Facebook with a market capitalization value of US $ 588 billion and two levels below Amazon with a value of US $ 886 billion.
Data from June 2019, Alibaba recorded revenue of 114.92 billion yuan or US $ 16.74 billion (around Rp 237.7 trillion). The biggest contributor to Alibaba’s sales is in Ecommerce which can reach 99.5 billion yuan or US $ 14.5 billion.
But this year the value of capacity at Tencent has only grown by around 20% until December 2019 so that its position is now overtaken by Alibaba, while Tencent has dropped to ninth position and is the number two guarded company in Asia.
The decline in Tencent was due to lower advertising revenue this year. Tencent became a victim of the increasing use of the popularity of ByteDance’s social media which operates TikTok.