Alibaba's Ma sees $1 trillion in transactions in 5 years

Before you go, we thought you'd like these...
Before you go close icon
Alibaba's Ma Sees $1 Trillion in Transactions in Five Years

Chinese e-commerce company Alibaba Group Holding Ltd is aiming to more than double its transaction volumes to more than $1 trillion in five years, Executive Chairman Jack Ma told a conference in Chicago on Wednesday.

Ma said the group would achieve $1 trillion in "sales" in five years.

A spokesman for the group said he was referring to "gross merchandise volume," a measure of the transactions across its various platforms, which came to roughly $390 billion in the past fiscal year.

Alibaba Group Holding IPO Overview | FindTheCompany

More from AOL.com:
Facebook earns 51 percent of ad revenue overseas
Israeli start-up spins web of deception to foil hackers
Etsy surging after a big investor boosted stake in company

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners