Major targets at Alibaba cloud computing after 90 percent revenue growth

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Alibaba’s cloud computing division saw its revenue grow by 90 percent in the second quarter of its fiscal year. Jack Ma, currently chairman of the board of directors, says he has great goals for the future. The department aims to serve two billion customers worldwide and support 10 million companies by 2036.

The cloud computing division of Alibaba turned a turnover of 825 million U.S. dollars, but made a loss of 22.64 million U.S. dollars. That loss is higher than a year earlier, when it amounted to 23.49 million dollars.

Mom says she has big goals. According to him, the global economy is currently in ‘a state of turmoil’, with uncertainties about trade relations, stock markets and manufacturing industry. In addition, there are tensions between the trade relations of China and the United States, which according to Ma is also risky, according to ZDNet.

Experienced in setbacks

Alibaba has already had similar setbacks in the global economy twice, according to the chairman. “Our past experiences tell us that there are great opportunities for tension and friction. The only question is how to respond to that. Monumental challenges lead to monumental opportunities and Alibaba is well positioned because we are skilled in adversity.”

“When it becomes difficult to do business, it’s exactly the time to achieve our mission and make it easy to do business anywhere,” says Ma. “The current conventional business model and regulatory framework for global trade faces enormous challenges. This is the perfect opportunity for us to make globalisation a priority.”

In doing so, Ma points to Alibaba’s efforts over the past three years to create a trading system for SMEs, supporting the key aspects of global transactions – buying and selling, payments, delivery and travel. He also considered inclusiveness important, and it is important that all SMEs, young people and women have fair access to global trade.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.