Alibaba Tops Amazon to Become Biggest E-Commerce Company: Chart
Alibaba regained the title of the world’s biggest e-commerce company, albeit briefly.
(Bloomberg) -- After 831 days, Alibaba Group Holding Ltd. regained the title of the world’s biggest e-commerce company, albeit briefly. The Chinese retailer surpassed Amazon.com Inc. Tuesday on an intraday basis as the U.S. retail giant’s stock continued to stall after second-quarter earnings missed estimates and the merchant forecast a possible operating loss for the third quarter. Alibaba -- whose stock is up over 109 percent this year -- held the top spot for the first 9 and a half months after its initial public offering in 2014.
--With assistance from Gilbert Xu
To contact the reporter on this story: Brandon Kochkodin in New York at bkochkodin@bloomberg.net.
To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Nancy Moran