In a story published by Reuters yesterday, the statement was made that "Alibaba Group's plans to revolutionize China's retail industry, investing $16 billion in logistics and support by 2020, will open up China's vast interior and bring access to hundreds of millions of potential new customers."
The largest ecommerce company in China, Bloomberg News news says that a 2014 IPO for Alibaba could net $120 billion, making it third in line behind ecommerce giants Google and Amazon.
Two subets of the Alibaba Group include an English-language B2B platform and a wholesale sourcing marketplace. The B2B platform, Alibaba.com, launched in 1999 - more than a decade before AmazonSupply and Google Shopping for Suppliers.
What it all means: Alibaba could bring the two internet giants some stiff competition.