After making waves at the Wall Street, Alibaba is looking at making its presence felt in international markets. The Chinese e-commerce giant s founder Jack Ma has revealed that the company is planning on launching an international version of its marketplace Taobao, Reuters reports. Also Read - Jack Ma's Alibaba fined record $2.7B by ChinaAlso Read - Tech billionaire and Alibaba founder Jack Ma missing after conflict with Chinese govt
Taobao is Alibaba s marketplace where consumers sell products to each other. Ma said that the international version of Taobao will be available in multiple languages including English. This would be Alibaba s second marketplace after Aliexpress that caters to the international audience. Unlike Taobao however, Aliexpress specializes in wholesale goods. Also Read - Ant Group ordered by China to reexamine its fintech businesses and return to its roots as a payments service
Ma revealed his plans during a meeting between Chinese Premier Li Keqiang and Internet industry leaders. But he stopped short of revealing when exactly the company plans on launching the marketplace in international markets.
Alibaba s expansion plans come as little surprise. Recently after being listed on the New York Stock Exchange, it was able to raise $21.8 billion. Back home it also broke all its previous sales records during China s Singles Day sale. At the end of the day s sale, Alibaba reported record-breaking sales of 57.1 billion yuan or $9.3 billion. This was way more than the 35 billion yuan ($5.70 billion), the company managed to notch up last year.