Money Out of Nowhere: How Internet Marketplaces Unlock Economic Wealth
abovethecrowd.com
FEBRUARY 27, 2019
In 1999, Jack Ma created Alibaba , a Chinese-based B2B marketplace for connecting small and medium enterprise with potential export opportunities. Four years later, in May of 2003, they launched Taobao Marketplace, Alibaba’s answer to eBay. In 2017, the company reported sales of over $500 million. annual GMV.
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