Alibaba emerges a big winner from China’s coronavirus crisis

While many companies are hurting from disruption caused by the virus, Alibaba has seen traffic at its online marketplaces shoot higher and demand grow for services like food delivery. But that also signals that big tech companies like Alibaba are only going to get bigger, potentially stifling smaller firms, analysts said. Alibaba on Friday reported increases of 21% in quarterly revenue and 19% in core commerce sales, beating expectations. Analysts said the virus and Alibaba’s strengthening position were likely to reinforce trends that worry some in China and elsewhere. “All of those companies, when they get a little big and get noticed by Alibaba, they just get bought – so they never get a chance to become big companies,” she said.

Read Full Article Here

Related Articles