Alibaba Group is a privately owned Hangzhou-based group of Internet-based e-commerce businesses including business-to-business online web portals, online retail and payment services, a shopping search engine and data-centric cloud computing services. In 2012, two of Alibabaâs portals together handled 1.1 trillion yuan ($170 billion) in sales, more than competitors eBay and Amazon.com combined. The company primarily operates in the Peopleâs Republic of China, and in March 2013 was estimated by The Economist magazine to have a valuation between $55 billion to more than $120 billion.
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