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Alibaba's Ma sees $1 trillion in transactions in five years

Published 06/10/2015, 02:14 PM
© Reuters. Jack Ma, Founder and Executive Chairman of Alibaba Group addresses the Economic Club of New York
BABA
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(Reuters) - Chinese e-commerce company Alibaba (NYSE:BABA) Group Holding Ltd is aiming to more than double its transaction volumes to more than $1 trillion in five years, Executive Chairman Jack Ma told a conference in Chicago on Wednesday.

Ma said the group would achieve $1 trillion in "sales" in five years.

© Reuters. Jack Ma, Founder and Executive Chairman of Alibaba Group addresses the Economic Club of New York

A spokesman for the group said he was referring to "gross merchandise volume," a measure of the transactions across its various platforms, which came to roughly $390 billion in the past fiscal year.

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