Alibaba Group Holding Limited is a Chinese multinational e-commerce, retail, internet, AI and technology corporation founded in 1999 by Jack Ma and 17 others founder which provide customer to customer, business to customer, and business to business sales services via web portals, electronic payment services, shopping search engines and cloud computing. In Dec 2001, Alibaba.com attained profitability, which then lead to the founding of Taobao in May 2003, as e-commerce platform, which offers a variety of products for retail sale.
While in Dec 2004, Alipay was introduced as a third party online payment platform with no transaction fee, it also provide an escrow service, in which customer can validate whether they are satisfied with goods they have bought before releasing money to the seller.
