Throughout the centuries, Alibaba has been known as a character in the adventure tale of Ali Baba and the Forty Thieves in One Thousand and One Nights. According to the legend, Ali Baba discovered a cave of hidden treasures and opened the door with the magic words "Open, Sesame". Today, Alibaba means more than just the fictional character. Type Alibaba into any online search engine and you will find that it more commonly refers to the world's number one e-commerce website matching importers and exporters, Alibaba.com.
Alibaba.com was founded by Jack Ma and 18 other people in 1999 in Hangzhou, China with a dream to help small- and medium-sized enterprises (SMEs) grow their business and become more competitive through the Internet. Jack Ma said, "I wanted to build a global company, so I chose a global name. Alibaba is easy to spell and pronounce in practically all languages, and people everywhere associate it with Open, Sesame."
In eight short years, Alibaba.com has grown into an internationally recognized e-commerce brand and a vibrant global community of more than 24 million members from over 200 countries and regions. Its success is thanks not only to its eye-catching company name but also to its effective business model. Foreign buyers use the website for free to find suppliers of everything, from embroidered fabric to silver jewelry. Suppliers are charged an annual fee for premium membership packages that offer priority placement for their storefront and products in site directories and search rankings.
Just as Ali Baba opened the door to pots of silver and gold, Alibaba.com is an online marketplace that's open to the world. These days you don't have to be a huge multinational to benefit from global trade, everyday entrepreneurs and small businesses are finding new opportunities on Alibaba.com.
What do you think of the name Alibaba? What did you think the first time you heard about Alibaba.com. Leave your comments and your impressions here!