Alibaba: From Tale to Real
Supervising Professor: Teng Bingsheng; Case Researcher: Yang Guchuan [ Language available : Chinese ]

In 1999, Alibaba started out with RMB 500 thousand in venture capital. On May 14, 2013, Goldman Sachs raised Alibaba’s valuation from USD 35 billion to USD 70 billion. In one fell swoop, Alibaba’s market value surpassed that of Chinese internet giants Tencent and Baidu put together. How did Alibaba become China’s largest internet firm? What was behind its massive valuation by Goldman Sachs? What makes the company unique?

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