Before you worry about the future, take a trip into the past:
- Alibaba, named after the character from Arabian Nights, was founded in 1999 by Jack Ma and reached profitability by 2001.
- In 2014 it's IPO was the biggest in history and by 2017 it became the first Chinese company to reach a $400 billion market cap.
- Some of their products include: Alipay, AliExpress, Taoboa, Yahoo China, and many more.
The giant Chinese online retailer, also said it would invest $700 million into NetEase's streaming music business, NetEase Cloud Music.
Kaola will continue to operate independently, but the general manager of Alibaba's Tmall business will lead the company as CEO.
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This article was written by a staff member of TheStreet.